California BanCorp (NASDAQ:CALB – Get Free Report) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 168,600 shares, a growth of 436.9% from the June 30th total of 31,400 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average trading volume of 44,100 shares, the short-interest ratio is presently 3.8 days.
California BanCorp Stock Up 2.2 %
Shares of NASDAQ:CALB traded up $0.52 during trading on Thursday, hitting $24.25. 12,944 shares of the company were exchanged, compared to its average volume of 33,686. The stock has a market cap of $205.42 million, a price-to-earnings ratio of 10.01 and a beta of 0.95. California BanCorp has a fifty-two week low of $17.18 and a fifty-two week high of $27.82. The firm has a fifty day moving average price of $21.78 and a two-hundred day moving average price of $22.44. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27.
California BanCorp (NASDAQ:CALB – Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $19.42 million for the quarter, compared to analyst estimates of $19.50 million. California BanCorp had a return on equity of 10.90% and a net margin of 17.16%. As a group, research analysts anticipate that California BanCorp will post 2.15 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on CALB
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC acquired a new position in shares of California BanCorp during the 4th quarter worth approximately $210,000. Bedell Frazier Investment Counselling LLC acquired a new position in shares of California BanCorp during the 4th quarter worth approximately $216,000. Mendon Capital Advisors Corp acquired a new position in California BanCorp in the 4th quarter valued at $583,000. Wasatch Advisors LP grew its holdings in California BanCorp by 2.3% in the 4th quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock valued at $7,803,000 after buying an additional 7,192 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in California BanCorp by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 357,516 shares of the company’s stock valued at $7,865,000 after buying an additional 18,100 shares in the last quarter. 59.52% of the stock is owned by institutional investors and hedge funds.
About California BanCorp
California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services to businesses and professionals in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit.
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