Rosenthal Henry Capital Advisors Inc. Makes New Investment in California BanCorp $BCAL

Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of California BanCorp (NASDAQ:BCAL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,100 shares of the company’s stock, valued at approximately $1,347,000.

Several other large investors have also bought and sold shares of BCAL. Maloon Powers Pitre Higgins & Dennehy LLC acquired a new position in California BanCorp during the second quarter worth about $3,551,000. BlackRock Inc. acquired a new stake in shares of California BanCorp in the 2nd quarter valued at approximately $40,129,000. The Manufacturers Life Insurance Company acquired a new stake in shares of California BanCorp in the 2nd quarter valued at approximately $16,501,000. Algebris UK Ltd. acquired a new stake in shares of California BanCorp in the 2nd quarter valued at approximately $8,360,000. Finally, Bank of America Corp DE bought a new stake in shares of California BanCorp during the 2nd quarter valued at approximately $1,468,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCAL. Weiss Ratings reiterated a “buy (b)” rating on shares of California BanCorp in a research report on Monday, September 21st. Raymond James Financial assumed coverage on shares of California BanCorp in a research report on Thursday, August 20th. They issued an “outperform” rating and a $25.00 target price on the stock. Stephens boosted their target price on shares of California BanCorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. DA Davidson boosted their target price on shares of California BanCorp from $23.50 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Zacks Research downgraded shares of California BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Insider Buying and Selling at California BanCorp

In other California BanCorp news, Director Lester Machado sold 7,500 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $21.19, for a total value of $158,925.00. Following the sale, the director owned 22,391 shares in the company, valued at approximately $474,465.29. The trade was a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.14% of the stock is currently owned by corporate insiders.

California BanCorp Price Performance

BCAL opened at $21.54 on Thursday. California BanCorp has a fifty-two week low of $16.87 and a fifty-two week high of $22.41. The company’s 50 day moving average price is $21.59 and its two-hundred day moving average price is $19.84. The firm has a market capitalization of $692.53 million, a price-to-earnings ratio of 11.71 and a beta of 0.91.

California BanCorp (NASDAQ:BCAL) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $46.05 million during the quarter, compared to the consensus estimate of $46.12 million. California BanCorp had a net margin of 26.01% and a return on equity of 10.44%. As a group, equities research analysts predict that California BanCorp will post 1.74 EPS for the current year.

California BanCorp Company Profile

California BanCorp (NASDAQ: BCAL) is a bank holding company headquartered in California. Through its principal subsidiary, California Bank of Commerce, the company provides commercial banking products and services to businesses, professionals, and individuals.

California Bank of Commerce offers business and personal deposit accounts, commercial and industrial lending, commercial real estate financing, construction loans, lines of credit, treasury management, online banking, and other cash-management services.