California BanCorp (BCAL) Expected to Post Quarterly Earnings on Monday

Key Points

• California BanCorp is expected to report quarterly results before the market opens on Monday, July 27, with analysts forecasting $0.41 EPS and $45.07 million in revenue.
• The company’s last quarter came in slightly above expectations, posting $0.42 EPS versus the $0.41 estimate, with revenue of $44.22 million.
• BCAL has drawn a generally positive outlook from analysts, with a Buy consensus rating and a consensus price target of $20.67.

California BanCorp (NASDAQ:BCAL - Get Free Report) will likely be announcing its results before the market opens on Monday, July 27th. Analysts expect California BanCorp to post earnings of $0.41 per share and revenue of $45.07 million for the quarter.

California BanCorp (NASDAQ:BCAL - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. California BanCorp had a return on equity of 10.59% and a net margin of 25.68%.The firm had revenue of $44.22 million for the quarter. On average, analysts expect California BanCorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

California BanCorp Stock Performance

Shares of California BanCorp stock opened at $21.23 on Monday. The stock has a market capitalization of $682.97 million, a PE ratio of 11.60 and a beta of 0.93. California BanCorp has a 52 week low of $14.56 and a 52 week high of $21.70. The stock has a 50 day moving average price of $19.80 and a two-hundred day moving average price of $18.89.

California BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, June 23rd. California BanCorp's payout ratio is 21.86%.

Insiders Place Their Bets

In other California BanCorp news, President Richard Hernandez sold 17,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $19.12, for a total transaction of $325,040.00. Following the sale, the president owned 72,935 shares in the company, valued at $1,394,517.20. This represents a 18.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.14% of the company's stock.

Institutional Trading of California BanCorp

A number of institutional investors have recently added to or reduced their stakes in BCAL. EverSource Wealth Advisors LLC increased its position in shares of California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company's stock worth $34,000 after purchasing an additional 2,121 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of California BanCorp by 508.7% in the third quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company's stock worth $37,000 after buying an additional 1,862 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of California BanCorp by 12.4% in the third quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company's stock worth $82,000 after acquiring an additional 545 shares during the period. State of Wyoming lifted its holdings in California BanCorp by 83.8% in the fourth quarter. State of Wyoming now owns 7,007 shares of the company's stock valued at $131,000 after acquiring an additional 3,195 shares during the period. Finally, Jump Financial LLC bought a new position in shares of California BanCorp in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

BCAL has been the subject of several analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of California BanCorp in a research note on Wednesday, June 24th. Zacks Research upgraded California BanCorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Finally, DA Davidson increased their price target on California BanCorp from $21.50 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $20.67.

California BanCorp Company Profile

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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