FJ Capital Management LLC Grows Position in California BanCorp $BCAL

Key Points

• FJ Capital Management LLC has significantly increased its holdings in California BanCorp by 300.6% in the first quarter, now owning over 1 million shares valued at approximately $15 million.
• California BanCorp's stock has received mixed reviews, with Wall Street Zen downgrading the rating from "buy" to "hold," while Stephens upgraded it to "strong-buy" with a price target of $19.00.
• The company's current market capitalization stands at $547.64 million, with share prices opening at $16.84 on Monday, showing a twelve-month high of $18.49.

FJ Capital Management LLC boosted its stake in shares of California BanCorp (NASDAQ:BCAL - Free Report) by 300.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,057,925 shares of the company's stock after acquiring an additional 793,828 shares during the quarter. California BanCorp accounts for about 1.6% of FJ Capital Management LLC's investment portfolio, making the stock its 24th largest holding. FJ Capital Management LLC owned approximately 3.26% of California BanCorp worth $15,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BCAL. Raymond James Financial Inc. purchased a new stake in California BanCorp during the 4th quarter valued at about $641,000. Barclays PLC lifted its holdings in California BanCorp by 8.3% in the 4th quarter. Barclays PLC now owns 39,806 shares of the company's stock worth $658,000 after buying an additional 3,050 shares during the period. Tower Research Capital LLC TRC lifted its holdings in California BanCorp by 265.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company's stock worth $47,000 after buying an additional 2,068 shares during the period. Northern Trust Corp lifted its holdings in California BanCorp by 0.8% in the 4th 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 during the period. Finally, BNP Paribas Financial Markets purchased a new stake in California BanCorp in the 4th quarter worth approximately $102,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BCAL. Stephens upgraded California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 price objective for the company in a report on Monday, August 4th. Wall Street Zen upgraded California BanCorp from a "hold" rating to a "buy" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, California BanCorp currently has a consensus rating of "Strong Buy" and an average price target of $19.50.

California BanCorp Stock Performance

Shares of BCAL traded up $0.01 on Friday, reaching $17.10. The stock had a trading volume of 71,596 shares, compared to its average volume of 79,559. The firm has a market capitalization of $556.09 million, a price-to-earnings ratio of 19.66 and a beta of 1.21. The company has a 50-day simple moving average of $16.17 and a 200-day simple moving average of $15.08. California BanCorp has a 12-month low of $11.87 and a 12-month high of $18.49.

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.