Rosenthal Henry Capital Advisors Inc. Purchases New Stake in California BanCorp $BCAL

Key Points

• Rosenthal Henry Capital Advisors purchased 63,100 shares of California BanCorp in the third quarter, valued at approximately $1.35 million. Institutional investors collectively own 55.4% of the company.
• Analyst sentiment remains positive: five analysts rate BCAL a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $24.50.
• California BanCorp reported quarterly EPS of $0.43, in line with estimates, and revenue of $46.05 million. The stock opened at $21.54, down 1.9%, with a market capitalization of roughly $692.5 million.

Rosenthal Henry Capital Advisors Inc. purchased a new position in shares of California BanCorp (NASDAQ:BCAL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 63,100 shares of the company's stock, valued at approximately $1,347,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of California BanCorp in the second quarter valued at $40,129,000. The Manufacturers Life Insurance Company bought a new stake in California BanCorp during the second quarter worth $16,501,000. Algebris UK Ltd. bought a new stake in California BanCorp during the second quarter worth $8,360,000. Dimensional Fund Advisors LP raised its position in California BanCorp by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 470,192 shares of the company's stock worth $8,331,000 after acquiring an additional 155,744 shares in the last quarter. Finally, Mendon Capital Advisors Corp lifted its stake in California BanCorp by 58.7% in the first quarter. Mendon Capital Advisors Corp now owns 404,369 shares of the company's stock valued at $7,165,000 after acquiring an additional 149,491 shares during the last quarter. Institutional investors own 55.40% of the company's stock.

Insider Buying and Selling at California BanCorp

In other news, Director Lester Machado sold 7,500 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.19, for a total transaction of $158,925.00. Following the completion of the sale, the director owned 22,391 shares in the company, valued at approximately $474,465.29. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BCAL shares. Stephens lifted their price objective on shares of California BanCorp from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Zacks Research lowered shares of California BanCorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 24th. Raymond James Financial assumed coverage on shares of California BanCorp in a report on Thursday, August 20th. They issued an "outperform" rating and a $25.00 target price on the stock. DA Davidson raised their target price on shares of California BanCorp from $23.50 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price target on California BanCorp from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, California BanCorp currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

California BanCorp Trading Down 1.9%

BCAL opened at $21.54 on Thursday. California BanCorp has a 1-year low of $16.87 and a 1-year high of $22.41. The stock's fifty day simple moving average is $21.59 and its 200 day simple moving average is $19.84. The stock has a market cap of $692.53 million, a PE ratio of 11.71 and a beta of 0.91.

California BanCorp (NASDAQ:BCAL - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. California BanCorp had a net margin of 26.01% and a return on equity of 10.44%. The firm had revenue of $46.05 million during the quarter, compared to analysts' expectations of $46.12 million. Equities analysts forecast that California BanCorp will post 1.74 earnings per share for the current year.

California BanCorp Company Profile

California BanCorp NASDAQ: BCAL is a bank holding company headquartered in California. Through its principal subsidiary, California Bank of Commerce, the company provides commercial banking products and services to businesses, professionals, and individuals.

California Bank of Commerce offers business and personal deposit accounts, commercial and industrial lending, commercial real estate financing, construction loans, lines of credit, treasury management, online banking, and other cash-management services.

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