Kennedy Capital Management LLC Grows Stake in California BanCorp $BCAL

Kennedy Capital Management LLC boosted its holdings in shares of California BanCorp (NASDAQ:BCAL) by 107.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,394 shares of the company’s stock after purchasing an additional 106,405 shares during the quarter. Kennedy Capital Management LLC’s holdings in California BanCorp were worth $3,237,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BCAL. Jump Financial LLC purchased a new stake in California BanCorp during the 1st quarter valued at approximately $228,000. Parallel Advisors LLC lifted its holdings in shares of California BanCorp by 12.9% in the second quarter. Parallel Advisors LLC now owns 10,097 shares of the company’s stock worth $159,000 after buying an additional 1,157 shares in the last quarter. Nuveen LLC bought a new position in shares of California BanCorp during the first quarter worth $436,000. Pinnacle Associates Ltd. bought a new position in shares of California BanCorp during the second quarter worth $781,000. Finally, Goldman Sachs Group Inc. increased its holdings in California BanCorp by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock valued at $998,000 after acquiring an additional 846 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 1st. DA Davidson set a $21.00 target price on California BanCorp in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods increased their price target on California BanCorp from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Zacks Research raised California BanCorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen cut California BanCorp from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.33.

California BanCorp Trading Down 0.6%

Shares of NASDAQ:BCAL opened at $19.64 on Friday. The company has a market cap of $634.76 million, a price-to-earnings ratio of 10.12 and a beta of 1.18. California BanCorp has a 12 month low of $11.87 and a 12 month high of $19.91. The company has a 50-day moving average price of $17.99 and a 200 day moving average price of $16.65.

California BanCorp (NASDAQ:BCAL) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The business had revenue of $45.11 million for the quarter, compared to the consensus estimate of $44.02 million. California BanCorp had a return on equity of 11.85% and a net margin of 26.26%. As a group, equities analysts forecast that California BanCorp will post 1.81 EPS for the current year.

California BanCorp Company Profile

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.