California BanCorp (NASDAQ:CALB – Get Rating) is scheduled to issue its quarterly earnings data on Wednesday, January 25th.
California BanCorp (NASDAQ:CALB – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. California BanCorp had a return on equity of 10.58% and a net margin of 21.66%. The firm had revenue of $19.85 million for the quarter, compared to analyst estimates of $16.50 million. On average, analysts expect California BanCorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Get California BanCorp alerts:California BanCorp Stock Performance
NASDAQ:CALB opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.07 and a current ratio of 1.07. California BanCorp has a 52-week low of $18.51 and a 52-week high of $25.20. The firm has a market cap of $196.25 million, a price-to-earnings ratio of 11.84 and a beta of 1.05. The business's fifty day moving average is $24.05 and its 200 day moving average is $21.92.
Hedge Funds Weigh In On California BanCorp
A number of hedge funds and other institutional investors have recently modified their holdings of CALB. Wasatch Advisors Inc. boosted its holdings in shares of California BanCorp by 2,486.9% in the 1st quarter. Wasatch Advisors Inc. now owns 312,828 shares of the company's stock worth $7,198,000 after purchasing an additional 300,735 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of California BanCorp by 4.6% in the 3rd quarter. Alliancebernstein L.P. now owns 552,916 shares of the company's stock worth $11,180,000 after purchasing an additional 24,340 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of California BanCorp by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 522,082 shares of the company's stock worth $12,013,000 after purchasing an additional 5,826 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of California BanCorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 326,107 shares of the company's stock worth $7,503,000 after purchasing an additional 2,103 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of California BanCorp by 8.5% in the 1st quarter. State Street Corp now owns 20,707 shares of the company's stock worth $476,000 after purchasing an additional 1,614 shares in the last quarter. 52.76% of the stock is currently owned by hedge funds and other institutional investors.Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CALB shares. Piper Sandler decreased their price objective on California BanCorp to $23.00 in a research note on Friday, September 30th. Keefe, Bruyette & Woods started coverage on California BanCorp in a research report on Monday, December 19th. They set a "market perform" rating and a $29.00 target price for the company. Finally, Hovde Group boosted their target price on California BanCorp to $27.00 in a research report on Tuesday, November 1st.
About California BanCorp
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California BanCorp is a holding company, which engages in the provision of banking and financial solutions. It offers deposits, lending, cash management, international banking as well as real estate mortgage, real estate construction, commercial, and installment loans. The company was founded on March 31, 2017 and is headquartered in Oakland, CA.
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