DA Davidson Cuts Earnings Estimates for California BanCorp

Key Points

• DA Davidson has lowered its FY2025 earnings per share estimate for California BanCorp from $1.75 to $1.74, while the consensus estimate remains at $1.81.
• California BanCorp's stock has seen mixed ratings from analysts, with Stephens upgrading it to a "strong-buy" and Wall Street Zen downgrading it to a "hold."
• Institutional investors now own 55.40% of California BanCorp's stock, indicating significant confidence in the company despite recent earnings revisions.

California BanCorp (NASDAQ:BCAL - Free Report) - Investment analysts at DA Davidson dropped their FY2025 earnings per share estimates for California BanCorp in a research report issued to clients and investors on Monday, September 29th. DA Davidson analyst G. Tenner now forecasts that the company will post earnings per share of $1.74 for the year, down from their prior forecast of $1.75. The consensus estimate for California BanCorp's current full-year earnings is $1.81 per share. DA Davidson also issued estimates for California BanCorp's FY2026 earnings at $1.64 EPS.

Other equities research analysts also recently issued reports about the stock. Stephens upgraded shares of California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 price target for the company in a research report on Monday, August 4th. Wall Street Zen downgraded California BanCorp from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and a consensus price target of $19.50.

California BanCorp Stock Down 1.3%

Shares of BCAL stock opened at $16.71 on Tuesday. California BanCorp has a 52-week low of $11.87 and a 52-week high of $18.49. The stock's 50-day moving average price is $16.45 and its 200 day moving average price is $15.25. The stock has a market capitalization of $543.38 million, a PE ratio of 19.21 and a beta of 1.21.

Institutional Investors Weigh In On California BanCorp

Large investors have recently made changes to their positions in the company. Empowered Funds LLC grew its stake in California BanCorp by 6.2% in the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company's stock valued at $172,000 after buying an additional 704 shares during the last quarter. Goldman Sachs Group Inc. grew its position in California BanCorp by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company's stock worth $998,000 after purchasing an additional 846 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 purchasing an additional 1,045 shares during the last quarter. Parallel Advisors LLC grew its position 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 purchasing an additional 1,157 shares during the last quarter. Finally, First Trust Advisors LP grew its position in California BanCorp by 7.1% in the 2nd quarter. First Trust Advisors LP now owns 20,685 shares of the company's stock worth $326,000 after purchasing an additional 1,377 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.