Nuveen LLC Acquires New Shares in California BanCorp $BCAL

Key Points

• Nuveen LLC has acquired a new position in California BanCorp, purchasing 30,405 shares valued at approximately $436,000.
• Institutional investors hold about 55.40% of California BanCorp's stock, with notable increases in holdings by FJ Capital Management and Bank of America Corp DE in the last quarter.
• Analysts have mixed ratings on California BanCorp, with a consensus rating of "Strong Buy" and a price target averaging $19.50 following February's upgrades and downgrades.

Nuveen LLC purchased a new position in California BanCorp (NASDAQ:BCAL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,405 shares of the company's stock, valued at approximately $436,000. Nuveen LLC owned 0.09% of California BanCorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in California BanCorp by 265.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company's stock worth $47,000 after purchasing an additional 2,068 shares during the period. GAMMA Investing LLC grew its stake in California BanCorp by 1,581.0% in the first quarter. GAMMA Investing LLC now owns 3,883 shares of the company's stock worth $56,000 after purchasing an additional 3,652 shares during the period. BNP Paribas Financial Markets purchased a new stake in California BanCorp in the fourth quarter worth $102,000. Fiduciary Trust Co purchased a new stake in California BanCorp in the fourth quarter worth $184,000. Finally, Deutsche Bank AG grew its stake in California BanCorp by 48.9% in the fourth quarter. Deutsche Bank AG now owns 13,802 shares of the company's stock worth $228,000 after purchasing an additional 4,530 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BCAL. Stephens raised California BanCorp from a "hold" rating to a "strong-buy" rating and set a $19.00 price target on the stock in a research note on Monday, August 4th. Wall Street Zen raised California BanCorp from a "hold" rating to a "buy" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Strong Buy" and an average price target of $19.50.

California BanCorp Stock Up 0.1%

Shares of NASDAQ BCAL traded up $0.01 during trading on Friday, reaching $17.10. The company had a trading volume of 71,596 shares, compared to its average volume of 79,559. California BanCorp has a 12-month low of $11.87 and a 12-month high of $18.49. The stock has a market cap of $556.09 million, a PE ratio of 19.66 and a beta of 1.21. The business's 50-day moving average is $16.17 and its 200 day moving average is $15.07.

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.