California BanCorp (BCAL) to Release Quarterly Earnings on Wednesday

California BanCorp (NASDAQ:BCAL) is anticipated to issue its results before the market opens on Wednesday, February 4th. Analysts expect the company to announce earnings of $0.44 per share for the quarter.

California BanCorp (NASDAQ:BCAL) last posted its earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The business had revenue of $45.18 million for the quarter, compared to analyst estimates of $44.02 million. California BanCorp had a net margin of 26.26% and a return on equity of 11.85%.

California BanCorp Stock Performance

California BanCorp stock opened at $18.43 on Wednesday. The business’s 50-day simple moving average is $19.04 and its 200-day simple moving average is $17.64. The firm has a market capitalization of $595.66 million, a PE ratio of 9.50 and a beta of 1.19. California BanCorp has a 52 week low of $11.87 and a 52 week high of $20.47.

California BanCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 24th were paid a dividend of $0.10 per share. 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 presently 20.62%.

Analyst Ratings Changes

A number of research analysts have recently commented on BCAL shares. DA Davidson set a $21.00 price objective on shares of California BanCorp in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods upped their price target on California BanCorp from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research lowered California BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings restated a “buy (b-)” rating on shares of California BanCorp in a research report on Monday, December 29th. Finally, Wall Street Zen lowered California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BCAL. EverSource Wealth Advisors LLC lifted its stake in California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $34,000 after buying an additional 2,121 shares during the period. Russell Investments Group Ltd. raised its holdings 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. BNP Paribas Financial Markets lifted its stake in California BanCorp by 12.4% in the third quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company’s stock valued at $82,000 after buying an additional 545 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of California BanCorp by 6.2% in the first quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock valued at $172,000 after buying an additional 704 shares during the period. Finally, Fiduciary Trust Co acquired a new position in shares of California BanCorp in the third quarter valued at approximately $236,000. Institutional investors own 55.40% of the company’s stock.

About California BanCorp

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.