Nuveen LLC Purchases New Shares in California BanCorp $BCAL

Nuveen LLC purchased a new stake in California BanCorp (NASDAQ:BCAL) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,405 shares of the company’s stock, valued at approximately $436,000. Nuveen LLC owned approximately 0.09% of California BanCorp as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BCAL. FJ Capital Management LLC lifted its position in California BanCorp by 85.7% during the fourth quarter. FJ Capital Management LLC now owns 264,097 shares of the company’s stock worth $4,368,000 after purchasing an additional 121,845 shares during the period. Northern Trust Corp lifted its holdings in shares of California BanCorp by 0.8% during the 4th quarter. Northern Trust Corp now owns 195,427 shares of the company’s stock worth $3,232,000 after acquiring an additional 1,644 shares during the period. Citadel Advisors LLC bought a new stake in shares of California BanCorp during the 4th quarter worth approximately $986,000. Bank of America Corp DE lifted its holdings in shares of California BanCorp by 156.2% during the 4th quarter. Bank of America Corp DE now owns 55,089 shares of the company’s stock worth $911,000 after acquiring an additional 33,590 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in shares of California BanCorp by 16.3% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 54,349 shares of the company’s stock worth $779,000 after acquiring an additional 7,631 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of California BanCorp from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Stephens raised shares of California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, California BanCorp presently has a consensus rating of “Strong Buy” and a consensus price target of $19.50.

California BanCorp Trading Up 1.8%

BCAL stock opened at $17.09 on Friday. The stock has a market capitalization of $555.77 million, a P/E ratio of 19.64 and a beta of 1.21. California BanCorp has a 12 month low of $11.87 and a 12 month high of $18.49. The firm has a 50-day moving average price of $16.14 and a 200-day moving average price of $15.08.

California BanCorp 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.