California BanCorp (NASDAQ:CALB – Get a rating) benefited from a sharp drop in short-term interest rates in February. As of February 15, there was short interest totaling 2,400 shares, a decrease of 40.0% from the total of 4,000 shares as of January 31. Based on an average daily volume of 8,200 shares, the short interest rate is currently 0.3 days. Approximately 0.0% of the company’s shares are sold short.
Several institutional investors have recently changed their holdings in CALB. Royal Bank of Canada increased its holdings of California BanCorp shares by 276.5% in the second quarter. Royal Bank of Canada now owns 3,283 shares of the company valued at $61,000 after purchasing an additional 2,411 shares during the period. Two Sigma Investments LP acquired a new stake in California BanCorp in the third quarter worth $177,000. Wasatch Advisors Inc. purchased a new equity stake in California BanCorp during Q4 for $257,000. Two Sigma Advisers LP acquired a new position in shares of California BanCorp during Q3 worth $261,000. Finally, Goldman Sachs Group Inc. bought a new position in California BanCorp stock in Q2, valued at around $327,000. Institutional investors and hedge funds own 45.45% of the company’s shares.
NASDAQ:CALB shares opened at $22.22 on Friday. The company has a debt ratio of 0.94, a quick ratio of 1.10 and a current ratio of 1.10. California BanCorp has a one-year low of $16.05 and a one-year high of $24.00. The company has a 50-day simple moving average of $21.34 and a 200-day simple moving average of $19.35. The stock has a market capitalization of $183.34 million, a price/earnings ratio of 13.80 and a beta of 1.16.
California BanCorp (NASDAQ:CALB – Get a rating) last released its quarterly earnings data on Thursday, January 27. The company reported earnings per share of $0.38 for the quarter. California BanCorp had a return on equity of 9.32% and a net margin of 20.42%. The company had revenue of $14.96 million in the quarter.
California BanCorp Company Profile (Get a rating)
California BanCorp is a holding company that engages in the provision of banking and financial solutions. It offers deposits, loans, cash management, international banking, as well as real estate, building construction, commercial and installment mortgages. The company was founded on March 31, 2017 and is headquartered in Oakland, California.
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