California BanCorp (NASDAQ:BCAL) Given Average Rating of “Moderate Buy” by Brokerages

California BanCorp (NASDAQ:BCAL) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.50.

A number of research firms have recently commented on BCAL. Wall Street Zen downgraded California BanCorp from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. DA Davidson cut their price target on shares of California BanCorp from $22.50 to $21.50 and set a “buy” rating on the stock in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of California BanCorp in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of California BanCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th.

Insider Activity at California BanCorp

In other news, Director David J. Volk sold 2,346,104 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $18.95, for a total value of $44,458,670.80. Following the completion of the sale, the director owned 3,729 shares of the company’s stock, valued at $70,664.55. This represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On California BanCorp

A number of institutional investors and hedge funds have recently bought and sold shares of BCAL. Cullen Frost Bankers Inc. purchased a new stake in shares of California BanCorp during the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC grew its holdings in California BanCorp by 26,512.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $34,000 after purchasing an additional 2,121 shares in the last quarter. Russell Investments Group Ltd. increased its stake in 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 buying an additional 1,862 shares during the period. CWM LLC lifted its holdings in California BanCorp by 143.9% in the 3rd quarter. CWM LLC now owns 2,263 shares of the company’s stock worth $38,000 after buying an additional 1,335 shares in the last quarter. Finally, State of Wyoming acquired a new position in California BanCorp in the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

California BanCorp Stock Down 2.7%

Shares of NASDAQ BCAL opened at $18.31 on Friday. The stock has a market capitalization of $591.78 million, a PE ratio of 9.49 and a beta of 1.19. The firm has a fifty day moving average of $18.70 and a 200-day moving average of $18.11. California BanCorp has a 52-week low of $11.87 and a 52-week high of $20.47.

California BanCorp (NASDAQ:BCAL) last issued its earnings results on Wednesday, January 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. California BanCorp had a return on equity of 11.51% and a net margin of 26.60%.The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $45.03 million. Equities research analysts expect that California BanCorp will post 1.81 EPS for the current fiscal year.

California BanCorp Dividend Announcement

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