California BanCorp (NASDAQ:CALB) Short Interest Down 28.6% in April

California BanCorp (NASDAQ:CALB – Get Rating) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 2,000 shares, a decrease of 28.6% from the March 31st total of 2,800 shares. Based on an average trading volume of 9,200 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Shares of CALB stock remained flat at $$21.75 during trading on Monday. The stock had a trading volume of 1,500 shares, compared to its average volume of 8,293. The stock has a 50 day moving average price of $22.43. California BanCorp has a 52 week low of $16.98 and a 52 week high of $24.00. The company has a market capitalization of $179.89 million, a P/E ratio of 12.72 and a beta of 1.16. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06.

California BanCorp (NASDAQ:CALB – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. California BanCorp had a return on equity of 9.67% and a net margin of 20.94%.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of California BanCorp by 276.5% in the second quarter. Royal Bank of Canada now owns 3,283 shares of the company’s stock worth $61,000 after buying an additional 2,411 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of California BanCorp in the third quarter worth about $177,000. Wasatch Advisors Inc. bought a new stake in shares of California BanCorp in the 4th quarter worth approximately $257,000. Two Sigma Advisers LP bought a new stake in shares of California BanCorp in the 3rd quarter worth approximately $261,000. Finally, Morgan Stanley boosted its position in shares of California BanCorp by 34.9% in the 2nd quarter. Morgan Stanley now owns 24,387 shares of the company’s stock worth $457,000 after purchasing an additional 6,314 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

About California BanCorp (Get Rating)

California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit. The company also offers asset-based lending 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 business loans to the dental and veterinary industries, contractors, and emerging companies.

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