California BanCorp (BCAL) Projected to Post Earnings on Thursday

Key Points

• California BanCorp is expected to report results before the market opens on April 23, with analysts forecasting $0.40 EPS and $44.565M in revenue for the quarter.
• In the prior quarter BCAL beat estimates with $0.50 EPS and $46.21M in revenue; the stock trades at a PE of 9.61, market cap ≈ $599.7M, and carries a consensus price target of $20.50 (average rating: Buy).
• Insider activity is mixed— a director bought 27,000 shares in February while the CFO sold 8,000 in March— and the company pays a quarterly dividend of $0.10 (annualized yield ~2.2%, payout ratio ~20.7%).

California BanCorp (NASDAQ:BCAL - Get Free Report) is expected to announce its results before the market opens on Thursday, April 23rd. Analysts expect the company to announce earnings of $0.40 per share and revenue of $44.5650 million for the quarter.

California BanCorp (NASDAQ:BCAL - Get Free Report) last posted its earnings results on Wednesday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The company had revenue of $46.21 million during the quarter, compared to analyst estimates of $45.03 million. California BanCorp had a return on equity of 11.36% and a net margin of 26.60%.

California BanCorp Price Performance

Shares of BCAL stock opened at $18.55 on Thursday. The stock has a market cap of $599.67 million, a PE ratio of 9.61 and a beta of 1.11. The stock has a 50-day moving average of $18.20 and a 200-day moving average of $18.33. California BanCorp has a one year low of $12.36 and a one year high of $20.47.

California BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.40 dividend on an annualized basis and a yield of 2.2%. California BanCorp's payout ratio is currently 20.73%.

Insiders Place Their Bets

In other California BanCorp news, Director David J. Volk bought 27,000 shares of California BanCorp stock in a transaction that occurred on Tuesday, February 3rd. The stock was acquired at an average price of $18.64 per share, for a total transaction of $503,280.00. Following the completion of the acquisition, the director owned 28,195 shares of the company's stock, valued at $525,554.80. This trade represents a 2,259.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jean Carandang sold 8,000 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $17.90, for a total transaction of $143,200.00. Following the transaction, the chief financial officer owned 37,174 shares of the company's stock, valued at approximately $665,414.60. This represents a 17.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.84% of the company's stock.

Institutional Investors Weigh In On California BanCorp

Several hedge funds have recently bought and sold shares of BCAL. Wellington Management Group LLP increased its position in California BanCorp by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 2,882,833 shares of the company's stock worth $53,822,000 after buying an additional 802,947 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of California BanCorp by 77.1% in the third quarter. Kennedy Capital Management LLC now owns 363,664 shares of the company's stock valued at $6,066,000 after buying an additional 158,270 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of California BanCorp by 43.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 314,448 shares of the company's stock worth $5,871,000 after acquiring an additional 95,771 shares during the period. Marshall Wace LLP increased its holdings in shares of California BanCorp by 112.6% during the 4th quarter. Marshall Wace LLP now owns 219,196 shares of the company's stock worth $4,092,000 after acquiring an additional 116,109 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of California BanCorp by 277.7% during the 4th quarter. Jane Street Group LLC now owns 205,513 shares of the company's stock worth $3,837,000 after acquiring an additional 151,104 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCAL has been the subject of several recent analyst reports. DA Davidson lowered their target price on shares of California BanCorp from $22.50 to $21.50 and set a "buy" rating for the company in a research note on Thursday, January 29th. Zacks Research raised shares of California BanCorp from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of California BanCorp in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $20.50.

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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