California BanCorp (NASDAQ:BCAL) Downgraded by Wall Street Zen to "Hold"

Key Points

• California BanCorp (NASDAQ:BCAL) was downgraded from a "buy" to a "hold" rating by Wall Street Zen, impacting investor sentiment.
• Stephens upgraded the stock to a "strong-buy" rating with a target price of $19.00, while the consensus price target stands at $19.50.
• California BanCorp's shares fell 1.2% to $17.43, despite strong institutional interest, with 55.40% of shares held by institutional investors.

Wall Street Zen lowered shares of California BanCorp (NASDAQ:BCAL - Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Separately, Stephens upgraded California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 target price on the stock in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and an average target price of $19.50.

California BanCorp Stock Performance

California BanCorp stock traded down $0.06 during midday trading on Friday, reaching $17.29. The stock had a trading volume of 16,715 shares, compared to its average volume of 109,569. California BanCorp has a twelve month low of $11.87 and a twelve month high of $18.49. The stock has a market capitalization of $562.11 million, a PE ratio of 19.84 and a beta of 1.21. The stock's 50-day simple moving average is $16.38 and its 200 day simple moving average is $15.18.

Institutional Trading of California BanCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company's stock valued at $34,000 after buying an additional 2,121 shares during the last quarter. GAMMA Investing LLC boosted its stake in California BanCorp by 1,581.0% in the first quarter. GAMMA Investing LLC now owns 3,883 shares of the company's stock valued at $56,000 after acquiring an additional 3,652 shares during the period. BNP Paribas Financial Markets acquired a new position in California BanCorp in the fourth quarter valued at approximately $102,000. Parallel Advisors LLC boosted its stake in California BanCorp by 12.9% in the second quarter. Parallel Advisors LLC now owns 10,097 shares of the company's stock valued at $159,000 after acquiring an additional 1,157 shares during the period. Finally, 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 period. 55.40% of the stock is owned by institutional investors.

About California BanCorp

Southern California Bancorp operates as the holding company for Bank of Southern California, N.A. that provides various financial products to individuals, professionals, and small-to medium-sized businesses. The company offers checking, personal and business savings, and money market accounts, as well as certificates of deposit.