California BanCorp (NASDAQ:BCAL) Stock Rating Upgraded by Wall Street Zen

California BanCorp (NASDAQ:BCAL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently weighed in on BCAL. Keefe, Bruyette & Woods lifted 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. Weiss Ratings restated a “hold (c+)” rating on shares of California BanCorp in a research report on Wednesday, October 8th. DA Davidson set a $21.00 target price on California BanCorp in a report on Wednesday, October 29th. Finally, Stephens upgraded shares of California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.33.

California BanCorp Price Performance

BCAL stock opened at $18.84 on Friday. The firm has a market capitalization of $612.68 million, a P/E ratio of 9.71 and a beta of 1.20. California BanCorp has a 52-week low of $11.87 and a 52-week high of $19.39. The company’s 50 day simple moving average is $17.21 and its 200-day simple moving average is $16.03.

California BanCorp (NASDAQ:BCAL) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. California BanCorp had a net margin of 26.26% and a return on equity of 12.04%. The firm had revenue of $45.11 million during the quarter, compared to analyst estimates of $44.02 million. Sell-side analysts predict that California BanCorp will post 1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of California BanCorp by 6.2% during the first quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock worth $172,000 after buying an additional 704 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of California BanCorp by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock worth $998,000 after acquiring an additional 846 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in California BanCorp by 6.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,998 shares of the company’s stock valued at $244,000 after purchasing an additional 1,045 shares during the period. Parallel Advisors LLC boosted its holdings in California BanCorp by 12.9% in the 2nd quarter. Parallel Advisors LLC now owns 10,097 shares of the company’s stock valued at $159,000 after purchasing an additional 1,157 shares during the period. Finally, CWM LLC grew its position in California BanCorp by 143.9% in the 3rd quarter. CWM LLC now owns 2,263 shares of the company’s stock worth $38,000 after purchasing an additional 1,335 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

California BanCorp Company Profile

Southern California Bancorp operates as the holding company for Bank of Southern California, N.A. that provides various financial products to individuals, professionals, and small-to medium-sized businesses. The company offers checking, personal and business savings, and money market accounts, as well as certificates of deposit.