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

Key Points

• California BanCorp's stock rating has been reiterated as "Hold (C+)" by Weiss Ratings, reflecting a cautious outlook.
• The stock was also downgraded by Wall Street Zen from "Buy" to "Hold," whereas Stephens upgraded it from "Hold" to "Strong Buy" with a target price of $19.00.
• Institutional investors currently own over 55% of California BanCorp's stock, indicating significant interest from larger financial entities.

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

Other research analysts have also issued reports about the company. Wall Street Zen lowered 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 target price on the stock in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $19.50.

California BanCorp Price Performance

Shares of BCAL traded up $0.55 during midday trading on Friday, reaching $17.33. The stock had a trading volume of 94,524 shares, compared to its average volume of 109,837. California BanCorp has a 52 week low of $11.87 and a 52 week high of $18.49. The firm's 50 day moving average price is $16.82 and its 200-day moving average price is $15.53. The company has a market capitalization of $563.54 million, a P/E ratio of 19.92 and a beta of 1.19.

Institutional Trading of California BanCorp

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of California BanCorp by 26,512.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company's stock worth $34,000 after acquiring an additional 2,121 shares during the period. CWM LLC lifted its position in shares of California BanCorp by 143.9% in the 3rd quarter. CWM LLC now owns 2,263 shares of the company's stock worth $38,000 after acquiring an additional 1,335 shares during the period. Parallel Advisors LLC lifted its position in shares of 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 period. Empowered Funds LLC lifted its position in shares of California BanCorp by 6.2% in the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company's stock worth $172,000 after acquiring an additional 704 shares during the period. Finally, Woodward Diversified Capital LLC bought a new stake in shares of California BanCorp in the 2nd quarter worth approximately $213,000. 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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