DA Davidson Cuts Earnings Estimates for California BanCorp

California BanCorp (NASDAQ:BCAL) – Equities researchers at DA Davidson dropped their FY2025 EPS estimates for shares of California BanCorp in a research note issued on Tuesday, July 29th. DA Davidson analyst G. Tenner now forecasts that the company will post earnings per share of $1.75 for the year, down from their prior estimate of $1.78. The consensus estimate for California BanCorp’s current full-year earnings is $1.81 per share.

Separately, Stephens raised their price target on California BanCorp from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday.

California BanCorp Price Performance

Shares of BCAL opened at $14.99 on Thursday. The company has a market capitalization of $485.83 million, a PE ratio of 17.23 and a beta of 1.21. California BanCorp has a one year low of $11.87 and a one year high of $18.49. The company’s fifty day moving average price is $15.47 and its 200 day moving average price is $15.01.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BCAL. Tower Research Capital LLC TRC increased its position in California BanCorp by 265.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company’s stock worth $47,000 after acquiring an additional 2,068 shares during the period. GAMMA Investing LLC grew its position in California BanCorp by 1,581.0% in the 1st quarter. GAMMA Investing LLC now owns 3,883 shares of the company’s stock worth $56,000 after purchasing an additional 3,652 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in California BanCorp in the 4th quarter worth $102,000. Parallel Advisors LLC increased its holdings in shares of California BanCorp by 12.9% during the 2nd quarter. Parallel Advisors LLC now owns 10,097 shares of the company’s stock worth $159,000 after purchasing an additional 1,157 shares during the period. Finally, Davidson Kahn Capital Management LLC acquired a new position in shares of California BanCorp during the fourth quarter valued at about $172,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

California BanCorp announced that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase 1,600,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

California BanCorp Company Profile

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.