Pinnacle Associates Ltd. Buys 22,761 Shares of California BanCorp $BCAL

Posted by Brian Himes on Oct 24th, 2026

Pinnacle Associates Ltd. lifted its stake in California BanCorp (NASDAQ:BCAL – Free Report) by 44.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,204 shares of the company’s stock after purchasing an additional 22,761 shares during the period. Pinnacle Associates Ltd. owned 0.23% of California BanCorp worth $1,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of California BanCorp during the second quarter valued at about $40,129,000. The Manufacturers Life Insurance Company bought a new position in California BanCorp in the second quarter worth about $16,501,000. Algebris UK Ltd. purchased a new stake in California BanCorp in the second quarter worth about $8,360,000. Dimensional Fund Advisors LP lifted its holdings in California BanCorp by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 470,192 shares of the company’s stock worth $8,331,000 after buying an additional 155,744 shares during the period. Finally, Mendon Capital Advisors Corp lifted its holdings in California BanCorp by 58.7% in the first quarter. Mendon Capital Advisors Corp now owns 404,369 shares of the company’s stock worth $7,165,000 after buying an additional 149,491 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lester Machado sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $21.19, for a total value of $158,925.00. Following the transaction, the director owned 22,391 shares in the company, valued at approximately $474,465.29. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of California BanCorp in a report on Monday, September 21st. Raymond James Financial initiated coverage on California BanCorp in a research report on Thursday, August 20th. They issued an “outperform” rating and a $25.00 target price for the company. Stephens raised their target price on California BanCorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Zacks Research lowered California BanCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, DA Davidson lifted their price target on California BanCorp from $23.50 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Check Out Our Latest Stock Analysis on California BanCorp

California BanCorp Price Performance

Shares of California BanCorp stock opened at $22.04 on Friday. The stock has a market cap of $708.59 million, a price-to-earnings ratio of 11.99 and a beta of 0.91. The firm’s 50-day moving average is $21.58 and its 200 day moving average is $20.45. California BanCorp has a 1 year low of $16.86 and a 1 year high of $22.41.

California BanCorp (NASDAQ:BCAL – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $44.08 million for the quarter, compared to the consensus estimate of $45.07 million. California BanCorp had a net margin of 26.01% and a return on equity of 10.44%. On average, equities analysts expect that California BanCorp will post 1.74 EPS for the current fiscal year.

About California BanCorp

(Free Report)

California BanCorp (NASDAQ: BCAL) is a bank holding company headquartered in California. Through its principal subsidiary, California Bank of Commerce, the company provides commercial banking products and services to businesses, professionals, and individuals.

California Bank of Commerce offers business and personal deposit accounts, commercial and industrial lending, commercial real estate financing, construction loans, lines of credit, treasury management, online banking, and other cash-management services.