California BanCorp (NASDAQ:CALB) EVP Scott Alexander Myers Sells 632 Shares of Stock

California BanCorp (NASDAQ:CALB) EVP Scott Alexander Myers sold 632 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $21.99, for a total transaction of $13,897.68. Following the completion of the sale, the executive vice president now directly owns 9,902 shares of the company’s stock, valued at approximately $217,744.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Scott Alexander Myers also recently made the following trade(s):

• On Wednesday, June 12th, Scott Alexander Myers sold 1,298 shares of California BanCorp stock. The stock was sold at an average price of $21.90, for a total transaction of $28,426.20.
• On Thursday, May 9th, Scott Alexander Myers sold 174 shares of California BanCorp stock. The stock was sold at an average price of $21.85, for a total transaction of $3,801.90.

California BanCorp Stock Performance

Shares of NASDAQ:CALB opened at $25.09 on Thursday. The company has a market capitalization of $212.51 million, a price-to-earnings ratio of 10.59 and a beta of 0.95. California BanCorp has a 52 week low of $18.05 and a 52 week high of $27.82. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $22.01 and a 200 day moving average of $22.45.

California BanCorp (NASDAQ:CALB) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. California BanCorp had a net margin of 7.47% and a return on equity of 4.97%. The company had revenue of $19.42 million during the quarter, compared to the consensus estimate of $19.50 million. On average, sell-side analysts predict that California BanCorp will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On California BanCorp

Several institutional investors and hedge funds have recently bought and sold shares of CALB. Perigon Wealth Management LLC purchased a new position in California BanCorp in the fourth quarter worth $210,000. Bedell Frazier Investment Counselling LLC purchased a new position in California BanCorp in the fourth quarter worth $216,000. Wasatch Advisors LP grew its holdings in California BanCorp by 2.3% in the fourth quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock worth $7,803,000 after purchasing an additional 7,192 shares during the last quarter. Mendon Capital Advisors Corp purchased a new position in California BanCorp in the fourth quarter worth $583,000. Finally, Vanguard Group Inc. grew its holdings in California BanCorp by 5.3% in the first quarter. Vanguard Group Inc. now owns 357,516 shares of the company’s stock worth $7,865,000 after purchasing an additional 18,100 shares during the last quarter. 59.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial reaffirmed an “overweight” rating and set a $26.00 price target (down previously from $27.00) on shares of California BanCorp in a research note on Monday, May 6th. DA Davidson decreased their price target on shares of California BanCorp from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of California BanCorp from $23.50 to $23.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.25.

California BanCorp Company Profile

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.