California BanCorp (NASDAQ:BCAL) Stock Rating Upgraded by Wall Street Zen

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

Several other equities research analysts have also recently issued reports on BCAL. Stephens raised shares of California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of California BanCorp in a research report on Wednesday, October 8th. DA Davidson set a $21.00 price objective on California BanCorp in a research note on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of California BanCorp from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.33.

California BanCorp Price Performance

California BanCorp stock opened at $18.84 on Friday. The stock has a market capitalization of $612.68 million, a P/E ratio of 9.71 and a beta of 1.20. California BanCorp has a 12-month low of $11.87 and a 12-month high of $19.39. The firm’s 50-day moving average is $17.21 and its two-hundred day moving average is $15.99.

California BanCorp (NASDAQ:BCAL) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.09. California BanCorp had a return on equity of 12.04% and a net margin of 26.26%.The company had revenue of $45.11 million during the quarter, compared to the consensus estimate of $44.02 million. As a group, analysts forecast that California BanCorp will post 1.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. FJ Capital Management LLC increased its holdings in California BanCorp by 300.6% during the 1st quarter. FJ Capital Management LLC now owns 1,057,925 shares of the company’s stock worth $15,160,000 after purchasing an additional 793,828 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of California BanCorp in the 1st quarter valued at about $2,837,000. Kennedy Capital Management LLC lifted its position in shares of California BanCorp by 107.5% during the second quarter. Kennedy Capital Management LLC now owns 205,394 shares of the company’s stock worth $3,237,000 after purchasing an additional 106,405 shares during the last quarter. Marshall Wace LLP grew its stake in California BanCorp by 305.9% in the second quarter. Marshall Wace LLP now owns 88,808 shares of the company’s stock worth $1,400,000 after purchasing an additional 66,931 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of California BanCorp by 240.3% in the 2nd quarter. Jane Street Group LLC now owns 84,747 shares of the company’s stock worth $1,336,000 after acquiring an additional 59,843 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.