California BanCorp (BCAL) Expected to Announce Earnings on Monday

California BanCorp (NASDAQ:BCAL) will likely be posting its results before the market opens on Monday, July 27th. Analysts expect California BanCorp to post earnings of $0.41 per share and revenue of $45.07 million for the quarter.

California BanCorp (NASDAQ:BCAL) last released its quarterly earnings data on Friday, May 8th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $44.22 million for the quarter. California BanCorp had a return on equity of 10.59% and a net margin of 25.68%. On average, analysts expect California BanCorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

California BanCorp Stock Performance

BCAL opened at $21.02 on Friday. California BanCorp has a 1 year low of $14.56 and a 1 year high of $21.70. The firm has a 50 day moving average price of $20.04 and a 200 day moving average price of $18.97. The company has a market cap of $676.21 million, a PE ratio of 11.49 and a beta of 0.93.

California BanCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. California BanCorp’s dividend payout ratio is presently 21.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCAL. Zacks Research raised shares of California BanCorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. DA Davidson raised their price objective on California BanCorp from $21.50 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of California BanCorp in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.67.

Insider Buying and Selling at California BanCorp

In related news, President Richard Hernandez sold 17,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $19.12, for a total transaction of $325,040.00. Following the completion of the sale, the president directly owned 72,935 shares of the company’s stock, valued at approximately $1,394,517.20. This trade represents a 18.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.14% of the company’s stock.

Hedge Funds Weigh In On California BanCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock worth $34,000 after acquiring an additional 2,121 shares in the last quarter. Russell Investments Group Ltd. grew its stake in California BanCorp by 508.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after purchasing an additional 1,862 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in California BanCorp by 12.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company’s stock worth $82,000 after purchasing an additional 545 shares during the last quarter. State of Wyoming increased its holdings in California BanCorp by 83.8% during the 4th quarter. State of Wyoming now owns 7,007 shares of the company’s stock worth $131,000 after purchasing an additional 3,195 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of California BanCorp by 6.2% in the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock valued at $172,000 after purchasing an additional 704 shares in the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

California BanCorp Company Profile

California BanCorp (NASDAQ:BCAL) is a bank holding company headquartered in California. Founded to address the diverse financial needs of businesses and individuals across the state, the company focuses on community-oriented banking solutions and operates under a locally based decision-making model.

Through its wholly owned banking subsidiary, California BanCorp offers a suite of deposit products including checking, savings, money market and certificate of deposit accounts. Its lending portfolio encompasses commercial and industrial loans, real estate and construction financing, as well as consumer lending products such as personal loans and home equity lines of credit.

In addition to core deposit and lending services, the company provides treasury and cash management services, online and mobile banking platforms, and merchant payment solutions designed to streamline operations for small to mid-sized enterprises.