California BanCorp (NASDAQ:BCAL) Stock Has Average Price Target of $24.50

California BanCorp (NASDAQ:BCAL) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.50.

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of California BanCorp from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Zacks Research cut shares of California BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. DA Davidson upped their target price on shares of California BanCorp from $23.50 to $25.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of California BanCorp in a research report on Monday, September 21st. Finally, Raymond James Financial started coverage on California BanCorp in a research note on Thursday, August 20th. They set an “outperform” rating and a $25.00 target price for the company.

California BanCorp Trading Down 2.6%

NASDAQ:BCAL opened at $21.62 on Friday. California BanCorp has a 1-year low of $16.87 and a 1-year high of $22.59. The firm has a fifty day simple moving average of $21.65 and a 200 day simple moving average of $19.93. The stock has a market capitalization of $695.08 million, a PE ratio of 12.08 and a beta of 0.90.

California BanCorp (NASDAQ:BCAL) last issued its earnings results on Wednesday, October 28th. The company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. California BanCorp had a net margin of 25.47% and a return on equity of 10.09%. The business had revenue of $46.05 million for the quarter, compared to the consensus estimate of $46.12 million. On average, equities analysts predict that California BanCorp will post 1.74 earnings per share for the current fiscal year.

Institutional Trading of California BanCorp

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in California BanCorp by 25.1% in the 3rd quarter. Parallel Advisors LLC now owns 13,211 shares of the company’s stock valued at $282,000 after buying an additional 2,648 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. bought a new stake in shares of California BanCorp during the third quarter worth approximately $1,347,000. Sterling Capital Management LLC boosted its holdings in shares of California BanCorp by 9.7% during the third quarter. Sterling Capital Management LLC now owns 13,061 shares of the company’s stock worth $279,000 after acquiring an additional 1,159 shares during the period. Pinnacle Associates Ltd. lifted its holdings in California BanCorp by 44.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 74,204 shares of the company’s stock worth $1,584,000 after purchasing an additional 22,761 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in California BanCorp during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

About California BanCorp

California BanCorp (NASDAQ: BCAL) is a bank holding company headquartered in California. Through its principal subsidiary, California Bank of Commerce, the company provides commercial banking products and services to businesses, professionals, and individuals.

California Bank of Commerce offers business and personal deposit accounts, commercial and industrial lending, commercial real estate financing, construction loans, lines of credit, treasury management, online banking, and other cash-management services.