California BanCorp (NASDAQ:CALB) Price Target Cut to $23.00

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

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

California BanCorp Stock Performance

Shares of NASDAQ CALB opened at $21.88 on Monday. California BanCorp has a 52 week low of $13.31 and a 52 week high of $27.82. The firm has a market cap of $184.01 million, a price-to-earnings ratio of 9.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $22.23 and its 200-day simple moving average is $22.91.

Institutional Trading of California BanCorp

Several hedge funds and other institutional investors have recently bought and sold shares of CALB. Perigon Wealth Management LLC bought a new stake in shares of California BanCorp in the fourth quarter valued at about $210,000. Bedell Frazier Investment Counselling LLC bought a new stake in shares of California BanCorp in the 4th quarter worth approximately $216,000. Barclays PLC lifted its position in California BanCorp by 9.4% in the third quarter. Barclays PLC now owns 10,472 shares of the company’s stock worth $210,000 after purchasing an additional 897 shares during the period. Mendon Capital Advisors Corp acquired a new position in shares of California BanCorp in the 4th quarter valued at $583,000. Finally, Kennedy Capital Management LLC lifted its holdings in shares of California BanCorp by 13.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 120,689 shares of the company’s stock worth $2,426,000 after acquiring an additional 14,610 shares during the period. 59.52% of the stock is currently 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.