California BanCorp (NASDAQ:BCAL) Given Consensus Recommendation of “Moderate Buy” by Analysts

California BanCorp (NASDAQ:BCAL) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.50.

A number of research analysts have commented on the stock. DA Davidson reduced their price objective on shares of California BanCorp from $22.50 to $21.50 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Zacks Research lowered shares of California BanCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Wall Street Zen downgraded California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 29th.

California BanCorp Stock Down 2.7%

Shares of NASDAQ BCAL opened at $18.31 on Friday. California BanCorp has a fifty-two week low of $11.87 and a fifty-two week high of $20.47. The business has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $18.11. The firm has a market cap of $591.78 million, a PE ratio of 9.49 and a beta of 1.19.

California BanCorp (NASDAQ:BCAL) last announced its earnings results on Wednesday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. California BanCorp had a return on equity of 11.51% and a net margin of 26.60%.The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $45.03 million. On average, analysts anticipate that California BanCorp will post 1.81 earnings per share for the current 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, December 24th. California BanCorp’s payout ratio is 20.73%.

Insider Transactions at California BanCorp

In other California BanCorp news, Director David J. Volk sold 2,346,104 shares of California BanCorp stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $18.95, for a total value of $44,458,670.80. Following the completion of the transaction, the director owned 3,729 shares of the company’s stock, valued at $70,664.55. The trade was a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 14.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of California BanCorp by 26,512.5% in the 2nd 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. Cullen Frost Bankers Inc. bought a new position in California BanCorp in the fourth quarter worth about $36,000. Russell Investments Group Ltd. boosted its stake in California BanCorp by 508.7% in the third quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after acquiring an additional 1,862 shares during the period. CWM LLC grew its holdings in shares of California BanCorp by 143.9% during the third quarter. CWM LLC now owns 2,263 shares of the company’s stock valued at $38,000 after purchasing an additional 1,335 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of California BanCorp during the third quarter valued at approximately $64,000. 55.40% of the stock is currently 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.