California BanCorp (NASDAQ:BCAL) Short Interest Update

California BanCorp (NASDAQ:BCAL) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 395,143 shares, an increase of 34.8% from the December 31st total of 293,151 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 204,992 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 204,992 shares, the short-interest ratio is currently 1.9 days. Approximately 1.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BCAL shares. Zacks Research cut California BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen downgraded California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. DA Davidson lowered their target price on shares of California BanCorp from $22.50 to $21.50 and set a “buy” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on California BanCorp from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.50.

Institutional Trading of California BanCorp

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in California BanCorp by 26,512.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock worth $34,000 after acquiring an additional 2,121 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of California BanCorp by 508.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after acquiring an additional 1,862 shares during the last quarter. CWM LLC raised its position in California BanCorp by 143.9% in the third quarter. CWM LLC now owns 2,263 shares of the company’s stock valued at $38,000 after purchasing an additional 1,335 shares during the last quarter. State of Wyoming acquired a new stake in California BanCorp during the 3rd quarter worth approximately $64,000. Finally, New York State Common Retirement Fund grew its stake in shares of California BanCorp by 124.0% in the third quarter. New York State Common Retirement Fund now owns 4,104 shares of the company’s stock worth $68,000 after purchasing an additional 2,272 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

California BanCorp Stock Down 0.5%

NASDAQ BCAL traded down $0.09 during trading hours on Friday, hitting $17.99. The company’s stock had a trading volume of 279,292 shares, compared to its average volume of 277,372. California BanCorp has a twelve month low of $11.87 and a twelve month high of $20.47. The firm has a market capitalization of $581.44 million, a P/E ratio of 9.32 and a beta of 1.19. The stock has a fifty day moving average of $19.02 and a 200 day moving average of $17.67.

California BanCorp (NASDAQ:BCAL) last posted its earnings results on Wednesday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. California BanCorp had a return on equity of 11.51% and a net margin of 26.60%.The company had revenue of $45.90 million during the quarter, compared to analyst estimates of $45.03 million. On average, analysts predict that California BanCorp will post 1.81 earnings per share for the current year.

California BanCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.40 annualized dividend and a yield of 2.2%. California BanCorp’s payout ratio is 20.73%.

California BanCorp Company Profile

California BanCorp (NASDAQ:BCAL) is a bank holding company headquartered in California. Founded to address the diverse financial needs of businesses and individuals across the state, the company focuses on community-oriented banking solutions and operates under a locally based decision-making model.

Through its wholly owned banking subsidiary, California BanCorp offers a suite of deposit products including checking, savings, money market and certificate of deposit accounts. Its lending portfolio encompasses commercial and industrial loans, real estate and construction financing, as well as consumer lending products such as personal loans and home equity lines of credit.

In addition to core deposit and lending services, the company provides treasury and cash management services, online and mobile banking platforms, and merchant payment solutions designed to streamline operations for small to mid-sized enterprises.