California BanCorp (NASDAQ:CALB) was the target of a sharp drop in short rates in January. As of January 31, there was short interest totaling 4,000 shares, down 43.7% from the January 15 total of 7,100 shares. Based on an average daily trading volume of 7,400 shares, the short interest rate ratio is currently 0.5 days. Currently 0.1% of shares of the stock are shorted.
Several institutional investors and hedge funds have recently changed their holdings of CALB. The Royal Bank of Canada increased its stake in California BanCorp by 276.5% in the second quarter. The Royal Bank of Canada now owns 3,283 shares of the company, valued at $61,000, after buying another 2,411 shares last quarter. Two Sigma Investments LP acquired a new interest in shares of California BanCorp valued at approximately $177,000 during the third quarter. Tibra Equities Europe Ltd purchased a new position in shares of California BanCorp valued at $226,000 during the second quarter. Two Sigma Advisers LP acquired a new position in shares of California BanCorp valued at approximately $261,000 during the third quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in California BanCorp stock valued at approximately $327,000 during the second quarter. 49.68% of the shares are owned by institutional investors and hedge funds.
NASDAQ CALB opened at $21.49 on Monday. The stock has a market cap of $177.31 million, a price-to-earnings ratio of 13.34 and a beta of 1.19. The company has a 50-day simple moving average of $20.56. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.94. California BanCorp has a yearly low of $14.12 and a yearly high of $24.00.
Company profile of California BanCorp
California BanCorp is a holding company engaged in the provision of banking and financial solutions. It offers deposits, lending, cash management, international banking, real estate mortgages, real estate construction, commercial and personal loans. The company was incorporated on March 31, 2017 and is headquartered in Oakland, California.
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should You Invest $1,000 in California BanCorp Right Now?
Hear this before you consider California BanCorp.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and California BanCorp wasn’t on the list.
While California BanCorp is currently rated “N/A” by analysts, top analysts believe these five stocks are better buys.
Check out the 5 stocks here