California BanCorp's (BCAL) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• California BanCorp's stock has a "hold (C+)" rating, reaffirmed by Weiss Ratings, with an average rating of "Buy" and a consensus target price of $19.50.
• Institutional investors recently increased their stakes, with GAMMA Investing LLC raising its holdings by an impressive 1,581.0% in the first quarter.
• The company's stock traded down 0.8% on Wednesday, reaching $16.69, amid relatively low trading volume compared to its average.

California BanCorp (NASDAQ:BCAL - Get Free Report)'s stock had its "hold (c+)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of California BanCorp from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Stephens upgraded California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 price objective on the stock in a research note on Monday, August 4th. One 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, the company currently has an average rating of "Buy" and a consensus target price of $19.50.

California BanCorp Trading Down 0.8%

NASDAQ BCAL traded down $0.13 during mid-day trading on Wednesday, hitting $16.69. The company's stock had a trading volume of 63,527 shares, compared to its average volume of 110,445. The company's 50 day simple moving average is $16.53 and its 200 day simple moving average is $15.33. California BanCorp has a twelve month low of $11.87 and a twelve month high of $18.49. The firm has a market capitalization of $542.76 million, a price-to-earnings ratio of 19.18 and a beta of 1.19.

Institutional Investors Weigh In On California BanCorp

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in California BanCorp by 6.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,998 shares of the company's stock worth $244,000 after acquiring an additional 1,045 shares during the last quarter. GAMMA Investing LLC increased its holdings in California BanCorp by 1,581.0% in the 1st quarter. GAMMA Investing LLC now owns 3,883 shares of the company's stock worth $56,000 after acquiring an additional 3,652 shares during the last quarter. Jump Financial LLC purchased a new stake in California BanCorp in the 1st quarter worth about $228,000. Parallel Advisors LLC increased its holdings in California BanCorp by 12.9% in the 2nd quarter. Parallel Advisors LLC now owns 10,097 shares of the company's stock worth $159,000 after acquiring an additional 1,157 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in California BanCorp in the 1st quarter worth about $436,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

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.

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