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

California BanCorp (NASDAQ:BCAL) has received a consensus recommendation of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.3333.

A number of brokerages have weighed in on BCAL. Zacks Research cut shares of California BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. DA Davidson set a $21.00 price objective on shares of California BanCorp in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 29th. Wall Street Zen lowered California BanCorp from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Keefe, Bruyette & Woods raised their price target on California BanCorp from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 31st.

Institutional Trading of California BanCorp

Several hedge funds have recently bought and sold shares of BCAL. SG Americas Securities LLC bought a new position in California BanCorp in the 4th quarter worth about $113,000. JPMorgan Chase & Co. grew its holdings in California BanCorp by 79.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,077 shares of the company’s stock worth $318,000 after buying an additional 8,417 shares in the last quarter. 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 valued at $910,000 after acquiring an additional 11,446 shares during the period. Creative Planning raised its stake in California BanCorp by 38.3% during the 3rd 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. Finally, Monograph Wealth Advisors LLC bought a new stake in California BanCorp during the 3rd quarter valued at $467,000. 55.40% of the stock is currently owned by institutional investors.

California BanCorp Stock Down 1.4%

NASDAQ:BCAL opened at $18.56 on Friday. California BanCorp has a 52 week low of $11.87 and a 52 week high of $20.47. The company has a market cap of $599.91 million, a PE ratio of 9.57 and a beta of 1.19. The business’s 50 day moving average is $19.07 and its two-hundred day moving average is $17.51.

California BanCorp (NASDAQ:BCAL) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.09. California BanCorp had a return on equity of 11.85% and a net margin of 26.26%.The business had revenue of $45.18 million for the quarter, compared to analyst estimates of $44.02 million. As a group, sell-side analysts expect that California BanCorp will post 1.81 EPS for the current fiscal year.

California BanCorp Dividend Announcement

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

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.