California BanCorp (NASDAQ:CALB – Free Report) had its price target cut by Keefe, Bruyette & Woods from $23.50 to $23.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.
Several other brokerages have also issued reports on CALB. Truist Financial reiterated an overweight rating and issued a $26.00 price target (down previously from $27.00) on shares of California BanCorp in a research note on Monday. DA Davidson decreased their target price on California BanCorp from $36.00 to $31.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $26.25.
Get Our Latest Stock Report on CALB
California BanCorp Stock Performance
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Mendon Capital Advisors Corp bought a new position in California BanCorp in the fourth quarter valued at about $583,000. Wasatch Advisors LP increased its stake in shares of California BanCorp by 2.3% in the fourth quarter. Wasatch Advisors LP now owns 315,160 shares of the company’s stock valued at $7,803,000 after buying an additional 7,192 shares during the period. Bedell Frazier Investment Counselling LLC bought a new position in California BanCorp in the 4th quarter valued at approximately $216,000. Perigon Wealth Management LLC acquired a new stake in California BanCorp during the 4th quarter worth approximately $210,000. Finally, Kennedy Capital Management LLC grew 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 worth $2,426,000 after acquiring an additional 14,610 shares during the last quarter. 59.52% of the stock is currently owned by institutional investors.
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.
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