California BanCorp (NASDAQ:CALB) Given New $23.00 Price Target at Keefe, Bruyette & Woods

California BanCorp (NASDAQ:CALB) had its target price cut by Keefe, Bruyette & Woods from $23.50 to $23.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

CALB has been the subject of several other reports. Truist Financial restated an overweight rating and issued a $26.00 target price (down from $27.00) on shares of California BanCorp in a report on Monday. DA Davidson dropped their price objective on shares of California BanCorp from $36.00 to $31.00 and set a buy rating for the company in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, California BanCorp presently has a consensus rating of Buy and an average target price of $26.25.

California BanCorp Trading Up 1.1 %

Shares of California BanCorp stock opened at $22.01 on Monday. 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 stock’s 50 day simple moving average is $22.32 and its 200-day simple moving average is $22.90. The stock has a market cap of $185.10 million, a P/E ratio of 9.29 and a beta of 0.92. California BanCorp has a 1-year low of $13.31 and a 1-year high of $27.82.

Institutional Trading of California BanCorp

A number of hedge funds and other institutional investors have recently modified their holdings of CALB. Perigon Wealth Management LLC purchased a new position in shares of California BanCorp during the fourth quarter worth $210,000. Barclays PLC boosted its holdings in California BanCorp by 9.4% during the 3rd quarter. Barclays PLC now owns 10,472 shares of the company’s stock valued at $210,000 after acquiring an additional 897 shares during the period. Kennedy Capital Management LLC boosted its holdings in California BanCorp by 13.8% during 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 period. Wasatch Advisors LP grew its position 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 in the last quarter. Finally, Bedell Frazier Investment Counselling LLC purchased a new stake in California BanCorp during the fourth quarter worth about $216,000. 59.52% of the stock is owned by institutional investors and hedge funds.

About California BanCorp

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.