Vanguard Group Inc. Boosts Position in California BanCorp $BCAL

Vanguard Group Inc. increased its holdings in shares of California BanCorp (NASDAQ:BCAL) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,291,249 shares of the company’s stock after purchasing an additional 2,989 shares during the quarter. Vanguard Group Inc. owned approximately 3.99% of California BanCorp worth $18,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of California BanCorp in the fourth quarter valued at approximately $641,000. Barclays PLC increased its holdings in shares of California BanCorp by 8.3% in the fourth quarter. Barclays PLC now owns 39,806 shares of the company’s stock valued at $658,000 after purchasing an additional 3,050 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of California BanCorp by 265.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company’s stock valued at $47,000 after purchasing an additional 2,068 shares during the period. Northern Trust Corp increased its holdings in shares of California BanCorp by 0.8% in the fourth quarter. Northern Trust Corp now owns 195,427 shares of the company’s stock valued at $3,232,000 after purchasing an additional 1,644 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of California BanCorp in the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

BCAL has been the topic of a number of recent research reports. Stephens raised California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Monday, August 4th. Wall Street Zen lowered California BanCorp from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and an average price target of $19.50.

California BanCorp Stock Performance

BCAL opened at $16.84 on Friday. The business’s fifty day moving average is $16.01 and its two-hundred day moving average is $15.06. The company has a market cap of $547.60 million, a price-to-earnings ratio of 19.36 and a beta of 1.20. California BanCorp has a one year low of $11.87 and a one year high of $18.49.

About California BanCorp

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.