California BanCorp (NASDAQ:BCAL) Stock Price Up 3.4% - Should You Buy?

Key Points

• California BanCorp shares increased by 3.4% to $17.35, with trading volume down 16% from average daily levels.
• Recent analyst ratings show mixed opinions, with one upgrade to a strong-buy and two hold ratings, impacting the stock's average target price of $19.50.
• Multiple institutional investors have significantly increased their holdings in California BanCorp, contributing to the overall sentiment and market cap of $564.22 million.

California BanCorp (NASDAQ:BCAL - Get Free Report) shares rose 3.4% during trading on Friday . The company traded as high as $17.35 and last traded at $17.35. Approximately 94,524 shares were traded during trading, a decline of 16% from the average daily volume of 112,431 shares. The stock had previously closed at $16.78.

Analyst Ratings Changes

BCAL has been the topic of a number of research analyst reports. Wall Street Zen cut California BanCorp from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Weiss Ratings reiterated a "hold (c+)" rating on shares of California BanCorp in a research report on Friday. Finally, Stephens raised California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 price target on the stock in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, California BanCorp has an average rating of "Buy" and an average target price of $19.50.

California BanCorp Trading Up 3.4%

The stock has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $15.57. The company has a market cap of $564.22 million, a PE ratio of 19.94 and a beta of 1.19.

Institutional Investors Weigh In On California BanCorp

Several institutional investors have recently modified their holdings of the company. FJ Capital Management LLC boosted its stake in shares of California BanCorp by 20.2% during the 2nd quarter. FJ Capital Management LLC now owns 1,271,636 shares of the company's stock worth $20,041,000 after acquiring an additional 213,711 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in California BanCorp by 107.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 205,394 shares of the company's stock valued at $3,237,000 after acquiring an additional 106,405 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in California BanCorp in the 1st quarter valued at $2,837,000. Marshall Wace LLP raised its holdings in California BanCorp by 305.9% in the 2nd quarter. Marshall Wace LLP now owns 88,808 shares of the company's stock valued at $1,400,000 after acquiring an additional 66,931 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in California BanCorp by 240.3% in the 2nd quarter. Jane Street Group LLC now owns 84,747 shares of the company's stock valued at $1,336,000 after acquiring an additional 59,843 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company's stock.

California BanCorp Company Profile

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.

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