California BanCorp (NASDAQ:CALB- get rating) was the recipient of a large increase in short interest during the month of May. As of May 15, there was short interest on a total of 1,800 shares, an increase of 50.0% from the April 30 total of 1,200 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 6,400 shares, the short-term interest rate is currently 0.3 days.

Several hedge funds have recently changed their stock holdings. Manufacturers Life Insurance Company increased its stake in California BanCorp by 1.1% in the first quarter. Manufacturers Life Insurance Company now owns 522,082 shares of the company worth $12,013,000 after purchasing an additional 5,826 shares during the last quarter. State Street Corp increased its stake in California BanCorp stock by 8.5% during the first quarter. State Street Corp now owns 20,707 shares of the company valued at $476,000 after buying an additional 1,614 shares last quarter. Wasatch Advisors Inc. increased its stake in California BanCorp stock by 2,486.9% during the first quarter. Wasatch Advisors Inc. now owns 312,828 shares of the company valued at $7,198,000 after purchasing an additional 300,735 shares last quarter. Vanguard Group Inc. increased its stake in California BanCorp stock by 0.6% during the first quarter. Vanguard Group Inc. now owns 326,107 shares of the company valued at $7,503,000 after purchasing an additional 2,103 shares last quarter. Finally, BlackRock Inc. increased its stake in California BanCorp shares by 3.2% during the fourth quarter. BlackRock Inc. now owns 34,268 shares of the company valued at $727,000 after buying an additional 1,048 shares last quarter. Institutional investors own 52.52% of the company’s shares.

(Ad)

If you’re new to trading, you’ve probably heard the wrong thing about options: that they’re risky, unpredictable, or difficult.

And I couldn’t be more wrong! With the Hughes Options Strategy, you’ll soon learn that the safest option for new accounts is the options themselves!

CALB shares were up $0.30 during midday trading on Friday, reaching $20.70. 29,370 shares of the company’s stock traded by hand, compared to its average volume of 2,723. California BanCorp has a 1-year minimum of $16.98 and a 1-year maximum of $24.00. The company’s 50-day moving average is $21.88 and its 200-day moving average is $21.12. The firm has a current ratio of 1.02, a quick ratio of 1.02, and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $171.60 million, a price-earnings ratio of 12.11, and a beta of 1.12.

California BanCorp (NASDAQ:CALB- get rating) last issued its earnings results on Thursday, April 28. The company reported earnings per share (EPS) of $0.44 for the quarter, beating analyst consensus estimates of $0.42 by $0.02. California BanCorp had a return on equity of 9.55% and a net margin of 20.94%.

California BanCorp Company Profile (get rating)

California BanCorp operates as the bank holding company for the California Bank of Commerce which provides commercial banking services in California. Accepts various deposit products, including business checking, savings and money market accounts, as well as certificates of deposit. The company also offers asset-based loans; standby letters of credit; construction and development loans; real estate loans, such as commercial real estate loans and other loans; small business administration (SBA) loans, including SBA 7(a) and SBA 504 loans; consumer loans, such as secured and unsecured installment loans and revolving lines of credit; and business and industrial loans, including term loans, working capital, accounts receivable and inventory financing, and other business loans to the dental and veterinary industries, contractors and start-ups.

See also

This instant news alert was powered by MarketBeat’s financial data and narrative science technology to provide readers with the fastest and most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should I invest $1,000 in California BanCorp right now?

Before you consider California BanCorp, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market realizes it…and California BanCorp wasn’t on the list.

While California BanCorp currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Previous

Punjab Excise Department breaks link of illegal scotch liquor bottling

Next

Car prices will likely stay high because dealerships and automakers like it that way

Check Also