California BanCorp (NASDAQ:BCAL) Rating Lowered to Hold at Wall Street Zen

California BanCorp (NASDAQ:BCAL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

BCAL has been the subject of a number of other research reports. DA Davidson set a $21.00 price objective on shares of California BanCorp in a report on Wednesday, October 29th. Keefe, Bruyette & Woods increased their price target on California BanCorp from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Stephens upgraded California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Monday, August 4th. Finally, Weiss Ratings upgraded California BanCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, California BanCorp currently has an average rating of “Buy” and an average price target of $20.33.

California BanCorp Stock Up 0.4%

BCAL stock opened at $19.04 on Friday. California BanCorp has a 52 week low of $11.87 and a 52 week high of $19.39. The firm has a 50-day simple moving average of $17.42 and a 200-day simple moving average of $16.20. The stock has a market capitalization of $615.37 million, a P/E ratio of 9.81 and a beta of 1.20.

California BanCorp (NASDAQ:BCAL) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $45.11 million for the quarter, compared to analyst estimates of $44.02 million. California BanCorp had a return on equity of 11.85% and a net margin of 26.26%. On average, analysts expect that California BanCorp will post 1.81 earnings per share for the current year.

Hedge Funds Weigh In On California BanCorp

Institutional investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC boosted its position in California BanCorp by 16.3% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 54,349 shares of the company’s stock valued at $779,000 after buying an additional 7,631 shares during the period. Deutsche Bank AG increased its holdings in California BanCorp by 20.6% during the 1st quarter. Deutsche Bank AG now owns 16,642 shares of the company’s stock worth $238,000 after purchasing an additional 2,840 shares during the period. Nuveen LLC purchased a new position in shares of California BanCorp in the 1st quarter valued at about $436,000. American Century Companies Inc. grew its position 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 worth $598,000 after buying an additional 2,665 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of California BanCorp during the first quarter worth approximately $2,837,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.