California BanCorp (NASDAQ:BCAL) Short Interest Update

California BanCorp (NASDAQ:BCAL) saw a large increase in short interest in 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. Based on an average trading volume of 204,992 shares, the short-interest ratio is currently 1.9 days. Currently, 1.4% of the company’s stock are sold short. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 204,992 shares, the short-interest ratio is currently 1.9 days.

California BanCorp Stock Performance

Shares of NASDAQ:BCAL traded down $0.09 on Friday, hitting $17.99. 279,292 shares of the company’s stock were exchanged, compared to its average volume of 277,372. The firm’s 50-day moving average is $19.02 and its 200 day moving average is $17.67. The company has a market capitalization of $581.44 million, a PE ratio of 9.32 and a beta of 1.19. California BanCorp has a 1-year low of $11.87 and a 1-year high of $20.47.

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

California BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 24th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, December 24th. California BanCorp’s dividend payout ratio (DPR) is 20.73%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On California BanCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in California BanCorp by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock valued at $998,000 after purchasing an additional 846 shares during the last quarter. Empowered Funds LLC grew its stake in California BanCorp by 6.2% during the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock valued at $172,000 after acquiring an additional 704 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of California BanCorp in the first quarter worth approximately $357,000. Pinnacle Associates Ltd. acquired a new stake in shares of California BanCorp during the second quarter worth approximately $781,000. Finally, PFG Advisors lifted its position in California BanCorp by 3.1% in the 2nd quarter. PFG Advisors now owns 54,585 shares of the company’s stock worth $860,000 after buying an additional 1,635 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.