California BanCorp (NASDAQ:BCAL – Get Free Report) is projected to issue its results before the market opens on Monday, July 27th. Analysts expect the company to post earnings of $0.41 per share and revenue of $45.07 million for the quarter.
California BanCorp (NASDAQ:BCAL – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. California BanCorp had a net margin of 25.68% and a return on equity of 10.59%. The firm had revenue of $44.22 million during the quarter. On average, analysts expect California BanCorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
California BanCorp Stock Up 1.3%
Shares of NASDAQ:BCAL opened at $21.02 on Friday. California BanCorp has a 12-month low of $14.56 and a 12-month high of $21.70. The company’s 50 day moving average price is $20.04 and its two-hundred day moving average price is $18.97. The firm has a market cap of $676.21 million, a PE ratio of 11.49 and a beta of 0.93.
California BanCorp Dividend Announcement
Analyst Upgrades and Downgrades
BCAL has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of California BanCorp in a research note on Wednesday, June 24th. Zacks Research upgraded California BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, DA Davidson increased their target price on California BanCorp from $21.50 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.67.
Check Out Our Latest Research Report on BCAL
Insider Activity at California BanCorp
In other news, President Richard Hernandez sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $19.12, for a total transaction of $325,040.00. Following the completion of the sale, the president owned 72,935 shares of the company’s stock, valued at approximately $1,394,517.20. This represents a 18.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.14% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in California BanCorp by 26,512.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock worth $34,000 after purchasing an additional 2,121 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of California BanCorp by 508.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after purchasing an additional 1,862 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of California BanCorp by 12.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company’s stock worth $82,000 after buying an additional 545 shares in the last quarter. State of Wyoming raised its holdings in shares of California BanCorp by 83.8% during the 4th quarter. State of Wyoming now owns 7,007 shares of the company’s stock worth $131,000 after buying an additional 3,195 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of California BanCorp by 6.2% during the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock worth $172,000 after buying an additional 704 shares in the last quarter. 55.40% of the stock is owned by institutional investors.
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.
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