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.
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.
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