California BanCorp (NASDAQ:CALB) Given New $23.00 Price Target at Keefe, Bruyette & Woods

California BanCorp (NASDAQ:CALB) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $23.50 to $23.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 5.26% from the company’s previous close.

Several other research analysts have also issued reports on CALB. DA Davidson cut their price target on California BanCorp from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Truist Financial reiterated an “overweight” rating and issued a $26.00 target price (down from $27.00) on shares of California BanCorp in a report on Monday. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.25.

California BanCorp Price Performance

CALB stock opened at $21.85 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day moving average is $22.30 and its 200-day moving average is $22.92. The stock has a market capitalization of $183.76 million, a PE ratio of 9.22 and a beta of 0.92. California BanCorp has a 1 year low of $13.31 and a 1 year high of $27.82.

Institutional Trading of California BanCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALB. Perigon Wealth Management LLC purchased a new position in shares of California BanCorp during the fourth quarter valued at approximately $210,000. Barclays PLC lifted its stake in California BanCorp by 9.4% during the 3rd quarter. Barclays PLC now owns 10,472 shares of the company’s stock valued at $210,000 after acquiring an additional 897 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in California BanCorp by 13.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 120,689 shares of the company’s stock worth $2,426,000 after acquiring an additional 14,610 shares during the last quarter. Wasatch Advisors LP boosted its holdings in California BanCorp by 2.3% during the 4th quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock worth $7,803,000 after acquiring an additional 7,192 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC bought a new stake in shares of California BanCorp in the 4th quarter worth $216,000. 59.52% of the stock is owned by institutional investors.

California BanCorp Company Profile

California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services to businesses and professionals in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit.