California BanCorp Forecasted to Post Q2 2024 Earnings of $0.53 Per Share (NASDAQ:CALB)

California BanCorp (NASDAQ:CALBFree Report) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for California BanCorp in a research note issued to investors on Wednesday, May 1st. DA Davidson analyst G. Tenner expects that the company will post earnings per share of $0.53 for the quarter. DA Davidson has a “Buy” rating and a $31.00 price objective on the stock. The consensus estimate for California BanCorp’s current full-year earnings is $2.25 per share. DA Davidson also issued estimates for California BanCorp’s FY2024 earnings at $2.19 EPS and FY2025 earnings at $2.14 EPS.

California BanCorp (NASDAQ:CALBGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $29.74 million during the quarter, compared to the consensus estimate of $20.10 million. California BanCorp had a return on equity of 11.05% and a net margin of 17.16%.

Separately, Keefe, Bruyette & Woods lowered their price objective on California BanCorp from $26.50 to $23.50 and set an “outperform” rating for the company in a research report on Friday, April 5th.

View Our Latest Research Report on CALB

California BanCorp Price Performance

Shares of NASDAQ:CALB opened at $21.61 on Thursday. The company has a market cap of $181.74 million, a P/E ratio of 9.19 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. California BanCorp has a 52 week low of $12.78 and a 52 week high of $27.82. The business has a fifty day simple moving average of $22.37 and a 200-day simple moving average of $22.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALB. Barclays PLC boosted its holdings in 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 last quarter. Kennedy Capital Management LLC boosted its holdings in 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 last quarter. Perigon Wealth Management LLC acquired a new position in California BanCorp in the fourth quarter valued at $210,000. Bedell Frazier Investment Counselling LLC acquired a new position in California BanCorp in the fourth quarter valued at $216,000. Finally, Wasatch Advisors LP boosted its holdings in California BanCorp by 2.3% in 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 during the last quarter. Institutional investors and hedge funds own 59.52% of the company’s stock.

California BanCorp Company Profile

(Get Free Report)

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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