California BanCorp (NASDAQ:BCAL) Short Interest Up 34.8% in January

California BanCorp (NASDAQ:BCAL) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 395,143 shares, a growth of 34.8% from the December 31st total of 293,151 shares. Based on an average trading volume of 204,992 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.4% of the company’s stock are short sold. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 204,992 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On California BanCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of California BanCorp by 199.4% during the third quarter. Wellington Management Group LLP now owns 2,079,886 shares of the company’s stock worth $34,692,000 after acquiring an additional 1,385,202 shares during the last quarter. FJ Capital Management LLC lifted its position in California BanCorp by 20.2% during the 2nd quarter. FJ Capital Management LLC now owns 1,271,636 shares of the company’s stock worth $20,041,000 after acquiring an additional 213,711 shares during the period. Kennedy Capital Management LLC grew its stake in shares of California BanCorp by 77.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 363,664 shares of the company’s stock valued at $6,066,000 after purchasing an additional 158,270 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of California BanCorp by 44.4% during the third quarter. Dimensional Fund Advisors LP now owns 218,677 shares of the company’s stock worth $3,648,000 after purchasing an additional 67,238 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in shares of California BanCorp by 86.2% in the 3rd quarter. Bridgeway Capital Management LLC now owns 111,936 shares of the company’s stock worth $1,867,000 after acquiring an additional 51,826 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

California BanCorp Stock Performance

NASDAQ BCAL opened at $18.57 on Tuesday. The company has a market cap of $600.02 million, a P/E ratio of 9.62 and a beta of 1.19. California BanCorp has a fifty-two week low of $11.87 and a fifty-two week high of $20.47. The business’s 50 day moving average price is $19.00 and its 200-day moving average price is $17.69.

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

California BanCorp Dividend Announcement

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