California BanCorp (NASDAQ:BCAL) Receives Average Rating of “Moderate Buy” from Analysts

California BanCorp (NASDAQ:BCAL) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.50.

A number of equities analysts have recently weighed in on BCAL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of California BanCorp in a research report on Monday, December 29th. DA Davidson decreased their target price on California BanCorp from $22.50 to $21.50 and set a “buy” rating for the company in a research note on Thursday, January 29th. Wall Street Zen cut California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Keefe, Bruyette & Woods upped their price target on shares of California BanCorp from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Zacks Research cut shares of California BanCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th.

Institutional Investors Weigh In On California BanCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $34,000 after buying an additional 2,121 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of California BanCorp by 508.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock worth $37,000 after acquiring an additional 1,862 shares during the last quarter. CWM LLC raised its stake in California BanCorp by 143.9% in the 3rd quarter. CWM LLC now owns 2,263 shares of the company’s stock valued at $38,000 after acquiring an additional 1,335 shares during the period. State of Wyoming bought a new stake in California BanCorp in the 3rd quarter valued at $64,000. Finally, New York State Common Retirement Fund lifted its holdings in California BanCorp by 124.0% during the 3rd quarter. New York State Common Retirement Fund now owns 4,104 shares of the company’s stock valued at $68,000 after purchasing an additional 2,272 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

California BanCorp Price Performance

Shares of BCAL stock opened at $18.77 on Wednesday. The stock has a market cap of $606.65 million, a PE ratio of 9.73 and a beta of 1.19. The stock has a 50-day moving average of $18.99 and a 200-day moving average of $17.71. California BanCorp has a one year low of $11.87 and a one year high of $20.47.

California BanCorp (NASDAQ:BCAL) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. California BanCorp had a net margin of 26.60% and a return on equity of 11.51%. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $45.03 million. As a group, research analysts anticipate that California BanCorp will post 1.81 earnings per share for the current year.

California BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 24th were paid a $0.10 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.40 annualized dividend and a yield of 2.1%. California BanCorp’s payout ratio is presently 20.73%.

California BanCorp Company Profile

California BanCorp (NASDAQ:BCAL) is a bank holding company headquartered in California. Founded to address the diverse financial needs of businesses and individuals across the state, the company focuses on community-oriented banking solutions and operates under a locally based decision-making model.

Through its wholly owned banking subsidiary, California BanCorp offers a suite of deposit products including checking, savings, money market and certificate of deposit accounts. Its lending portfolio encompasses commercial and industrial loans, real estate and construction financing, as well as consumer lending products such as personal loans and home equity lines of credit.

In addition to core deposit and lending services, the company provides treasury and cash management services, online and mobile banking platforms, and merchant payment solutions designed to streamline operations for small to mid-sized enterprises.