California BanCorp (NASDAQ:CALB) Short Interest Up 6.5% in April

California BanCorp (NASDAQ:CALB) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 80,000 shares, an increase of 6.5% from the March 31st total of 75,100 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 26,900 shares, the days-to-cover ratio is currently 3.0 days.

California BanCorp Trading Down 0.8 %

CALB stock opened at $21.53 on Thursday. The company has a market capitalization of $181.07 million, a PE ratio of 9.08 and a beta of 0.92. California BanCorp has a one year low of $12.78 and a one year high of $27.82. The company’s 50 day moving average price is $22.39 and its two-hundred day moving average price is $22.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.09.

California BanCorp (NASDAQ:CALB) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $29.74 million during the quarter, compared to analysts’ expectations of $20.10 million. California BanCorp had a net margin of 17.16% and a return on equity of 11.05%. As a group, analysts predict that California BanCorp will post 2.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CALB shares. Keefe, Bruyette & Woods cut their target price on shares of California BanCorp from $26.50 to $23.50 and set an “outperform” rating for the company in a research report on Friday, April 5th. DA Davidson cut their price objective on California BanCorp from $36.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday.

Institutional Trading of California BanCorp

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of California BanCorp by 9.4% in the third quarter. Barclays PLC now owns 10,472 shares of the company’s stock worth $210,000 after buying an additional 897 shares during the period. Perigon Wealth Management LLC purchased a new position in California BanCorp in the 4th quarter worth approximately $210,000. Bedell Frazier Investment Counselling LLC purchased a new position in California BanCorp in the 4th quarter worth approximately $216,000. Mendon Capital Advisors Corp bought a new stake in California BanCorp in the fourth quarter valued at approximately $583,000. Finally, Kennedy Capital Management LLC boosted its stake in shares of California BanCorp by 13.8% during the third quarter. Kennedy Capital Management LLC now owns 120,689 shares of the company’s stock valued at $2,426,000 after purchasing an additional 14,610 shares during the period. 59.52% of the stock is currently owned by hedge funds and other institutional investors.

California BanCorp Company Profile

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.