California BanCorp (BCAL) to Release Earnings on Wednesday

California BanCorp (NASDAQ:BCAL) is expected to announce its results before the market opens on Wednesday, February 4th. Analysts expect California BanCorp to post earnings of $0.44 per share for the quarter.

California BanCorp (NASDAQ:BCAL) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.39 by $0.09. The business had revenue of $45.18 million during the quarter, compared to analysts’ expectations of $44.02 million. California BanCorp had a net margin of 26.26% and a return on equity of 11.85%.

California BanCorp Price Performance

Shares of NASDAQ BCAL opened at $18.43 on Wednesday. The stock has a market capitalization of $595.66 million, a price-to-earnings ratio of 9.50 and a beta of 1.19. The firm’s 50 day simple moving average is $19.04 and its 200-day simple moving average is $17.64. California BanCorp has a 12 month low of $11.87 and a 12 month high of $20.47.

California BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 24th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. California BanCorp’s dividend payout ratio is currently 20.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research cut California BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. DA Davidson set a $21.00 price objective on California BanCorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods boosted 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. Wall Street Zen downgraded shares of California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.33.

Institutional Investors Weigh In On California BanCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCAL. Bank of America Corp DE increased its position in California BanCorp by 26.5% in the 3rd quarter. Bank of America Corp DE now owns 54,566 shares of the company’s stock worth $910,000 after purchasing an additional 11,446 shares during the last quarter. Creative Planning raised its position in California BanCorp by 38.3% during the third quarter. Creative Planning now owns 29,397 shares of the company’s stock valued at $490,000 after acquiring an additional 8,138 shares in the last quarter. Monograph Wealth Advisors LLC acquired a new stake in California BanCorp in the third quarter valued at approximately $467,000. Fiduciary Trust Co bought a new stake in California BanCorp in the third quarter worth approximately $236,000. Finally, Two Sigma Investments LP increased its stake in shares of California BanCorp by 343.0% during the 3rd quarter. Two Sigma Investments LP now owns 69,114 shares of the company’s stock worth $1,153,000 after purchasing an additional 53,512 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.