California BanCorp (NASDAQ:CALB) Forecasted to Earn Q2 2024 Earnings of $0.53 Per Share

California BanCorp (NASDAQ:CALB) – Equities researchers at DA Davidson issued their Q2 2024 EPS estimates for California BanCorp in a research note issued to investors on Wednesday, May 1st. DA Davidson analyst G. Tenner expects that the company will earn $0.53 per share for the quarter. DA Davidson has a “Buy” rating and a $31.00 price objective on the stock. The consensus estimate for California BanCorp’s current full-year earnings is $2.20 per share. DA Davidson also issued estimates for California BanCorp’s FY2024 earnings at $2.19 EPS and FY2025 earnings at $2.14 EPS.

Separately, Keefe, Bruyette & Woods decreased their price target on shares of California BanCorp from $26.50 to $23.50 and set an “outperform” rating on the stock in a research note on Friday, April 5th.

California BanCorp Trading Up 0.8 %

Shares of California BanCorp stock opened at $21.78 on Thursday. The firm has a market capitalization of $183.13 million, a PE ratio of 9.19 and a beta of 0.92. California BanCorp has a twelve month low of $12.78 and a twelve month high of $27.82. The firm’s 50-day moving average price is $22.34 and its 200 day moving average price is $22.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66.

California BanCorp (NASDAQ:CALB) last posted its earnings results on Tuesday, January 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. California BanCorp had a net margin of 17.16% and a return on equity of 11.05%. The business had revenue of $29.74 million for the quarter, compared to analyst estimates of $20.10 million.

Institutional Trading of California BanCorp

A number of hedge funds have recently bought and sold shares of the business. Mendon Capital Advisors Corp acquired a new stake in California BanCorp in the 4th quarter valued at about $583,000. Wasatch Advisors LP raised its holdings in California BanCorp by 2.3% in the 4th quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock valued at $7,803,000 after acquiring an additional 7,192 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new stake in California BanCorp in the 4th quarter valued at about $216,000. Perigon Wealth Management LLC acquired a new stake in California BanCorp in the 4th quarter valued at about $210,000. Finally, Kennedy Capital Management LLC raised its holdings in 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 acquiring an additional 14,610 shares during the last quarter. Institutional investors and hedge funds own 59.52% of the company’s stock.

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.