Alliancebernstein L.P. Lowers Stake in California BanCorp $BCAL

Alliancebernstein L.P. cut its position in shares of California BanCorp (NASDAQ:BCAL - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,514,100 shares of the company's stock after selling 29,372 shares during the quarter. Alliancebernstein L.P. owned approximately 7.76% of California BanCorp worth $36,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FJ Capital Management LLC grew its holdings in shares of California BanCorp by 300.6% during the first quarter. FJ Capital Management LLC now owns 1,057,925 shares of the company's stock worth $15,160,000 after buying an additional 793,828 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of California BanCorp during the first quarter worth about $2,837,000. Northern Trust Corp grew its holdings in shares of California BanCorp by 0.8% during the fourth quarter. Northern Trust Corp now owns 195,427 shares of the company's stock worth $3,232,000 after buying an additional 1,644 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of California BanCorp during the fourth quarter worth about $986,000. Finally, Bank of America Corp DE grew its holdings in shares of California BanCorp by 156.2% during the fourth quarter. Bank of America Corp DE now owns 55,089 shares of the company's stock worth $911,000 after buying an additional 33,590 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCAL has been the subject of a number of recent research reports. 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 report on Monday, August 4th. Wall Street Zen upgraded shares of California BanCorp from a "hold" rating to a "buy" rating in a report on Friday. One equities 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, California BanCorp currently has a consensus rating of "Strong Buy" and an average price target of $19.50.

California BanCorp Stock Performance

California BanCorp stock opened at $17.20 on Tuesday. California BanCorp has a 1 year low of $11.87 and a 1 year high of $18.49. The firm has a 50 day moving average price of $16.20 and a 200 day moving average price of $15.08. The company has a market cap of $559.34 million, a price-to-earnings ratio of 19.77 and a beta of 1.21.

California BanCorp 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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