Key Points
- CFO Jean Carandang sold 8,000 shares on March 6 at an average price of $17.90 for proceeds of $143,200, reducing her stake by 17.71% to 37,174 shares; the sale was disclosed in an SEC filing.
- California BanCorp shares traded around $17.84 (12‑month range $11.87–$20.47) with a market cap of $576.6M and a P/E of 9.24, the company recently beat quarterly EPS expectations ($0.50 vs. $0.44), and analysts maintain a consensus Moderate Buy with a $20.50 target.
California BanCorp (NASDAQ:BCAL - Get Free Report) CFO Jean Carandang sold 8,000 shares of California BanCorp stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $17.90, for a total value of $143,200.00. Following the completion of the transaction, the chief financial officer directly owned 37,174 shares of the company's stock, valued at $665,414.60. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
California BanCorp Stock Down 0.7%
Shares of NASDAQ BCAL opened at $17.84 on Tuesday. California BanCorp has a 12-month low of $11.87 and a 12-month high of $20.47. The firm's 50-day simple moving average is $18.60 and its 200 day simple moving average is $18.20. The company has a market cap of $576.59 million, a price-to-earnings ratio of 9.24 and a beta of 1.17.
California BanCorp (NASDAQ:BCAL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. California BanCorp had a net margin of 26.60% and a return on equity of 11.51%. The firm had revenue of $45.90 million during the quarter, compared to analysts' expectations of $45.03 million. On average, equities analysts expect that California BanCorp will post 1.81 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BCAL shares. DA Davidson lowered their price target on shares of California BanCorp from $22.50 to $21.50 and set a "buy" rating for the company in a report on Thursday, January 29th. Zacks Research downgraded California BanCorp from a "hold" rating to a "strong sell" rating in a report on Friday, January 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of California BanCorp in a research report on Monday, December 29th. Finally, Wall Street Zen cut California BanCorp from a "buy" rating to a "hold" rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.
Get Our Latest Stock Analysis on BCAL
Institutional Investors Weigh In On California BanCorp
Several institutional investors have recently modified their holdings of BCAL. BNP Paribas Financial Markets raised its stake in shares of California BanCorp by 12.4% during the third quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company's stock worth $82,000 after buying an additional 545 shares during the last quarter. Invesco Ltd. boosted its stake in California BanCorp by 4.4% in the fourth quarter. Invesco Ltd. now owns 16,154 shares of the company's stock valued at $302,000 after acquiring an additional 680 shares during the last quarter. Empowered Funds LLC boosted its stake in California BanCorp by 6.2% in the first quarter. Empowered Funds LLC now owns 11,969 shares of the company's stock valued at $172,000 after acquiring an additional 704 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in California BanCorp by 1.2% during the 1st 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 period. Finally, Price T Rowe Associates Inc. MD grew its holdings in California BanCorp by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,988 shares of the company's stock worth $243,000 after acquiring an additional 978 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.
California BanCorp Company Profile
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Get Free Report)
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.
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