Shares of California BanCorp (NASDAQ:BCAL - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 439,211 shares were traded during mid-day trading, an increase of 378% from the previous session's volume of 91,917 shares.The stock last traded at $16.66 and had previously closed at $16.37.
California BanCorp Price Performance
The firm has a market capitalization of $520.34 million, a PE ratio of 35.68 and a beta of 1.21. The stock's 50-day moving average price is $15.43 and its 200 day moving average price is $15.00.
California BanCorp (NASDAQ:BCAL - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.14. The company had revenue of $44.82 million during the quarter, compared to the consensus estimate of $44.86 million. California BanCorp had a net margin of 8.21% and a return on equity of 9.54%. Equities research analysts forecast that California BanCorp will post 1.81 earnings per share for the current fiscal year.
California BanCorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that allows the company to buyback 1,600,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Institutional Trading of California BanCorp
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in California BanCorp by 265.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company's stock worth $47,000 after purchasing an additional 2,068 shares during the last quarter. GAMMA Investing LLC raised its position in shares of California BanCorp by 1,581.0% in the first quarter. GAMMA Investing LLC now owns 3,883 shares of the company's stock valued at $56,000 after buying an additional 3,652 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in California BanCorp in the fourth quarter valued at approximately $102,000. Parallel Advisors LLC grew its stake in California BanCorp by 12.9% during the second quarter. Parallel Advisors LLC now owns 10,097 shares of the company's stock worth $159,000 after buying an additional 1,157 shares during the period. Finally, Davidson Kahn Capital Management LLC purchased a new position in shares of California BanCorp in the fourth quarter valued at $172,000. Hedge funds and other institutional investors own 55.40% of the company's stock.
About California BanCorp
(
Get Free Report)
Southern California Bancorp operates as the holding company for Bank of Southern California, N.A. that provides various financial products to individuals, professionals, and small-to medium-sized businesses. The company offers checking, personal and business savings, and money market accounts, as well as certificates of deposit.
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