California BanCorp (NASDAQ:CALB - Free Report) had its target price reduced by Keefe, Bruyette & Woods from $23.50 to $23.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the stock.
Several other brokerages also recently weighed in on CALB. Truist Financial reaffirmed an overweight rating and set a $26.00 target price (down from $27.00) on shares of California BanCorp in a research note on Monday. DA Davidson dropped their target price on California BanCorp from $36.00 to $31.00 and set a buy rating for the company in a report on Wednesday, May 1st. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $26.25.
Check Out Our Latest Stock Analysis on CALB
California BanCorp Stock Performance
NASDAQ:CALB traded up $0.24 during trading hours on Monday, reaching $22.01. The company had a trading volume of 6,200 shares, compared to its average volume of 23,936. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 1.09. The business's 50 day moving average price is $22.32 and its 200-day moving average price is $22.90. California BanCorp has a 1-year low of $13.31 and a 1-year high of $27.82. The firm has a market cap of $185.10 million, a PE ratio of 9.30 and a beta of 0.92.
Institutional Investors Weigh In On California BanCorp
A number of institutional investors have recently modified their holdings of CALB. Mendon Capital Advisors Corp acquired a new position in shares of California BanCorp in the fourth quarter valued at approximately $583,000. Kennedy Capital Management LLC increased its position in shares of California BanCorp by 13.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 120,689 shares of the company's stock valued at $2,426,000 after purchasing an additional 14,610 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new stake in California BanCorp in the fourth quarter valued at $216,000. Perigon Wealth Management LLC purchased a new position in shares of California BanCorp in the 4th quarter valued at about $210,000. Finally, Wasatch Advisors LP raised its stake in California BanCorp by 2.3% during the 4th quarter. Wasatch Advisors LP now owns 315,160 shares of the company's stock worth $7,803,000 after acquiring an additional 7,192 shares in the last quarter. 59.52% of the stock is owned by institutional investors and hedge funds.
California BanCorp Company Profile
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California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services to businesses and professionals in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit.
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