Analysts Set California BanCorp (NASDAQ:BCAL) Target Price at $20.50

California BanCorp (NASDAQ:BCAL) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.50.

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

California BanCorp Stock Performance

Shares of California BanCorp stock opened at $17.96 on Friday. The firm has a 50-day moving average of $18.62 and a 200-day moving average of $18.18. California BanCorp has a 52-week low of $11.87 and a 52-week high of $20.47. The stock has a market cap of $580.47 million, a PE ratio of 9.31 and a beta of 1.17.

California BanCorp (NASDAQ:BCAL) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. California BanCorp had a net margin of 26.60% and a return on equity of 11.51%. The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $45.03 million. Equities research analysts predict that California BanCorp will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at California BanCorp

In related news, Director David J. Volk bought 27,000 shares of California BanCorp stock in a transaction dated Tuesday, February 3rd. The shares were bought at an average cost of $18.64 per share, with a total value of $503,280.00. Following the acquisition, the director owned 28,195 shares in the company, valued at $525,554.80. This trade represents a 2,259.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 14.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BCAL. EverSource Wealth Advisors LLC grew its stake in California BanCorp by 26,512.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock worth $34,000 after buying an additional 2,121 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of California BanCorp in the 4th quarter valued at approximately $36,000. Russell Investments Group Ltd. lifted its holdings in shares of 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 acquiring an additional 1,862 shares during the period. CWM LLC lifted its holdings in shares of California BanCorp by 143.9% during the 3rd quarter. CWM LLC now owns 2,263 shares of the company’s stock worth $38,000 after acquiring an additional 1,335 shares during the period. Finally, State of Wyoming acquired a new stake in shares of California BanCorp during the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.