Short-term stake in California BanCorp (NASDAQ:CALB) increases 50.0%

California BanCorp (NASDAQ:CALB – Get a rating) benefited from a sharp increase in short-term interest during the month of May. As of May 15, there was short interest totaling 1,800 shares, a 50.0% increase 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 interest rate is currently 0.3 days.

A number of hedge funds have recently changed their stock holdings. The Manufacturers Life Insurance Company increased its stake in California BanCorp by 1.1% in the first quarter. The Manufacturers Life Insurance Company now owns 522,082 shares of the company worth $12,013,000 after acquiring 5,826 additional shares in the last quarter. State Street Corp increased its stake in shares of California BanCorp by 8.5% during the 1st quarter. State Street Corp now owns 20,707 shares of the company valued at $476,000 after purchasing an additional 1,614 shares in the last quarter. Wasatch Advisors Inc. increased its equity stake in California BanCorp by 2,486.9% during the 1st quarter. Wasatch Advisors Inc. now owns 312,828 shares of the company valued at $7,198,000 after purchasing an additional 300,735 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of California BanCorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 326,107 shares of the company valued at $7,503,000 after purchasing an additional 2,103 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of California BanCorp by 3.2% during the 4th quarter. BlackRock Inc. now owns 34,268 shares of the company valued at $727,000 after purchasing an additional 1,048 shares in the last quarter. Institutional investors hold 52.52% of the company’s shares.

CALB shares were up $0.30 at midday Friday, hitting $20.70. 29,370 shares of the company were traded, compared to its average volume of 2,723. California BanCorp has a 1-year low of $16.98 and a 1-year high of $24.00. The company’s fifty-day moving average is $21.88 and its 200-day moving average is $21.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt 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 a rating) last released its 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 a rating)

California BanCorp operates as a bank holding company for California Bank of Commerce which provides commercial banking services in California. It accepts various deposit products, including business checks, savings and money market accounts, and 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 commercial and industrial loans, including term loans, working capital, accounts receivable and inventory financing, and other commercial loans to the dental and veterinary industries, entrepreneurs and emerging businesses.

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