California BanCorp (NASDAQ:BCAL) Stock Rating Upgraded by Wall Street Zen

Key Points

• California BanCorp's stock has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, with a consensus target price of $19.50.
• Stephens has also raised their rating for California BanCorp, setting a target price of $19.00, reflecting increasing institutional confidence in the stock.
• The stock performance shows a 52-week low of $11.87 and a high of $18.49, currently opening at $17.10.

California BanCorp (NASDAQ:BCAL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Separately, Stephens raised shares of 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 research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and a consensus target price of $19.50.

California BanCorp Price Performance

Shares of NASDAQ:BCAL opened at $17.10 on Friday. The business's fifty day moving average price is $16.17 and its two-hundred day moving average price is $15.08. California BanCorp has a fifty-two week low of $11.87 and a fifty-two week high of $18.49. The stock has a market capitalization of $556.09 million, a price-to-earnings ratio of 19.66 and a beta of 1.21.

Institutional Investors Weigh In On California BanCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP acquired a new stake in California BanCorp in the 2nd quarter valued at about $639,000. Ameriprise Financial Inc. boosted its stake in shares of California BanCorp by 32.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 38,400 shares of the company's stock valued at $605,000 after purchasing an additional 9,365 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of 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 purchasing an additional 59,843 shares during the last quarter. FJ Capital Management LLC boosted its stake in shares of California BanCorp by 20.2% in the 2nd quarter. FJ Capital Management LLC now owns 1,271,636 shares of the company's stock valued at $20,041,000 after purchasing an additional 213,711 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of California BanCorp in the 2nd quarter valued at about $254,000. Institutional investors and hedge funds 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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