Parallel Advisors LLC Acquires 1,157 Shares of California BanCorp $BCAL

Parallel Advisors LLC raised its holdings in shares of California BanCorp (NASDAQ:BCAL) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,097 shares of the company’s stock after acquiring an additional 1,157 shares during the period. Parallel Advisors LLC’s holdings in California BanCorp were worth $159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC boosted its stake in shares of California BanCorp by 6.2% during the first quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock valued at $172,000 after purchasing an additional 704 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of California BanCorp by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock valued at $998,000 after purchasing an additional 846 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of California BanCorp by 6.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,998 shares of the company’s stock valued at $244,000 after purchasing an additional 1,045 shares during the period. PDT Partners LLC boosted its stake in shares of California BanCorp by 15.2% during the first quarter. PDT Partners LLC now owns 16,660 shares of the company’s stock valued at $239,000 after purchasing an additional 2,200 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of California BanCorp by 6.8% during the first quarter. American Century Companies Inc. now owns 41,747 shares of the company’s stock valued at $598,000 after purchasing an additional 2,665 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BCAL. Wall Street Zen lowered California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday. Stephens raised California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, California BanCorp has a consensus rating of “Strong Buy” and an average price target of $19.50.

California BanCorp Price Performance

Shares of NASDAQ:BCAL opened at $17.34 on Tuesday. California BanCorp has a 1-year low of $11.87 and a 1-year high of $18.49. The business has a fifty day moving average price of $16.38 and a 200-day moving average price of $15.18. The company has a market capitalization of $563.90 million, a PE ratio of 19.93 and a beta of 1.21.

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.