ELCO Management Co. LLC Sells 3,660 Shares of California BanCorp $BCAL

ELCO Management Co. LLC decreased its stake in shares of California BanCorp (NASDAQ:BCAL) by 18.3% during the 2nd quarter, Holdings Channel reports. The firm owned 16,340 shares of the company’s stock after selling 3,660 shares during the period. ELCO Management Co. LLC’s holdings in California BanCorp were worth $258,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Woodward Diversified Capital LLC acquired a new position in shares of California BanCorp during the 2nd quarter worth approximately $213,000. Parallel Advisors LLC increased its position in shares of California BanCorp by 12.9% during the 2nd quarter. Parallel Advisors LLC now owns 10,097 shares of the company’s stock worth $159,000 after purchasing an additional 1,157 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of California BanCorp by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock worth $998,000 after purchasing an additional 846 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of California BanCorp during the 1st quarter worth approximately $357,000. Finally, Empowered Funds LLC increased its position in shares of California BanCorp by 6.2% during the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock worth $172,000 after purchasing an additional 704 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

California BanCorp Trading Up 2.8%

BCAL stock opened at $17.70 on Wednesday. The firm has a market capitalization of $575.60 million, a PE ratio of 20.34 and a beta of 1.19. California BanCorp has a 1-year low of $11.87 and a 1-year high of $18.49. The business’s 50 day simple moving average is $16.90 and its 200 day simple moving average is $15.68.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BCAL shares. Wall Street Zen lowered California BanCorp from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of California BanCorp in a report on Wednesday, October 8th. Finally, Stephens raised California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, California BanCorp currently has a consensus rating of “Buy” and an average price target of $19.50.

About California BanCorp

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.