California BanCorp (NASDAQ:BCAL) Raised to “Buy” at Wall Street Zen

California BanCorp (NASDAQ:BCAL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, Stephens raised shares of California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, California BanCorp has a consensus rating of “Strong Buy” and an average target price of $19.50.

California BanCorp Price Performance

BCAL stock opened at $17.20 on Friday. California BanCorp has a 12 month low of $11.87 and a 12 month high of $18.49. The firm’s 50-day moving average is $16.26 and its 200 day moving average is $15.12. The company has a market capitalization of $559.34 million, a PE ratio of 19.77 and a beta of 1.21.

Hedge Funds Weigh In On California BanCorp

Several institutional investors have recently made changes to their positions in BCAL. FJ Capital Management LLC increased its holdings in shares of California BanCorp by 300.6% during the 1st quarter. FJ Capital Management LLC now owns 1,057,925 shares of the company’s stock valued at $15,160,000 after purchasing an additional 793,828 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of California BanCorp during the 1st quarter valued at approximately $2,837,000. Kennedy Capital Management LLC increased its holdings in shares of California BanCorp by 107.5% during the 2nd quarter. Kennedy Capital Management LLC now owns 205,394 shares of the company’s stock valued at $3,237,000 after purchasing an additional 106,405 shares in the last quarter. Marshall Wace LLP grew its stake in California BanCorp by 305.9% in the 2nd quarter. Marshall Wace LLP now owns 88,808 shares of the company’s stock valued at $1,400,000 after acquiring an additional 66,931 shares during the period. Finally, Jane Street Group LLC grew its stake in California BanCorp by 240.3% in the 2nd quarter. Jane Street Group LLC now owns 84,747 shares of the company’s stock valued at $1,336,000 after acquiring an additional 59,843 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.