California BanCorp (NASDAQ:CALB – Free Report) had its target price trimmed by DA Davidson from $36.00 to $31.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.
Separately, Keefe, Bruyette & Woods lowered their price objective on shares of California BanCorp from $26.50 to $23.50 and set an outperform rating for the company in a research report on Friday, April 5th.
Check Out Our Latest Stock Report on California BanCorp
California BanCorp Price Performance
California BanCorp (NASDAQ:CALB – Get Free Report) last issued its earnings results on Tuesday, January 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. California BanCorp had a net margin of 17.16% and a return on equity of 11.05%. The firm had revenue of $29.74 million during the quarter, compared to analyst estimates of $20.10 million. As a group, sell-side analysts expect that California BanCorp will post 2.25 earnings per share for the current fiscal year.
Hedge Funds Weigh In On California BanCorp
Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of California BanCorp by 9.4% in the third quarter. Barclays PLC now owns 10,472 shares of the company’s stock valued at $210,000 after acquiring an additional 897 shares during the period. Perigon Wealth Management LLC purchased a new stake in shares of California BanCorp in the fourth quarter valued at $210,000. Bedell Frazier Investment Counselling LLC purchased a new stake in shares of California BanCorp in the fourth quarter valued at $216,000. Mendon Capital Advisors Corp purchased a new stake in shares of California BanCorp in the fourth quarter valued at $583,000. Finally, Kennedy Capital Management LLC raised its stake in shares of California BanCorp by 13.8% in 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 during the period. Institutional investors own 59.52% of the company’s stock.
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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