California BanCorp (CALB) Set to Announce Earnings on Wednesday

California BanCorp (NASDAQ:CALB) will post its quarterly earnings results on Wednesday, April 24th.

California BanCorp (NASDAQ:CALB) last released its earnings results on Tuesday, January 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $29.74 million for the quarter, compared to analyst estimates of $20.10 million. California BanCorp had a return on equity of 11.55% and a net margin of 18.96%. 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 Performance

CALB opened at $21.32 on Tuesday. The firm has a market cap of $179.30 million, a P/E ratio of 8.33 and a beta of 0.92. California BanCorp has a 52-week low of $12.78 and a 52-week high of $27.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average is $22.48 and its 200-day moving average is $22.81.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their price objective on California BanCorp from $26.50 to $23.50 and set an “outperform” rating on the stock in a research note on Friday, April 5th.

Insider Activity at California BanCorp

In related news, EVP Scott Alexander Myers sold 2,564 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.68, for a total value of $63,279.52. Following the sale, the executive vice president now directly owns 20,075 shares of the company’s stock, valued at $495,451. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.75% of the stock is currently owned by insiders.

California BanCorp Company Profile

California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services to businesses and professionals in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit.