California BanCorp (NASDAQ:CALB – Get Free Report) had its price objective reduced by equities researchers at Keefe, Bruyette & Woods from $23.50 to $23.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 5.65% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Truist Financial restated an “overweight” rating and set a $26.00 price objective (down from $27.00) on shares of California BanCorp in a research report on Monday. DA Davidson lowered their price objective on California BanCorp from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, California BanCorp presently has a consensus rating of “Buy” and a consensus target price of $26.25.
View Our Latest Stock Analysis on California BanCorp
California BanCorp Trading Up 0.7 %
Institutional Investors Weigh In On California BanCorp
A number of hedge funds have recently added to or reduced their stakes in CALB. Mendon Capital Advisors Corp bought a new stake in shares of California BanCorp during the fourth quarter valued at approximately $583,000. Wasatch Advisors LP increased its holdings in shares of California BanCorp by 2.3% during the fourth quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock valued at $7,803,000 after acquiring an additional 7,192 shares in the last quarter. Bedell Frazier Investment Counselling LLC bought a new stake in shares of California BanCorp during the fourth quarter valued at approximately $216,000. Perigon Wealth Management LLC bought a new stake in shares of California BanCorp during the fourth quarter valued at approximately $210,000. Finally, Kennedy Capital Management LLC increased its holdings in shares of California BanCorp by 13.8% during the third quarter. Kennedy Capital Management LLC now owns 120,689 shares of the company’s stock valued at $2,426,000 after acquiring an additional 14,610 shares in the last quarter. 59.52% of the stock is currently owned by institutional investors.
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.
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