California BanCorp (NASDAQ:CALB) EVP Scott Alexander Myers Sells 806 Shares

California BanCorp (NASDAQ:CALB) EVP Scott Alexander Myers sold 806 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $22.09, for a total transaction of $17,804.54. Following the completion of the transaction, the executive vice president now directly owns 9,270 shares of the company’s stock, valued at approximately $204,774.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Scott Alexander Myers also recently made the following trade(s):

• On Wednesday, June 12th, Scott Alexander Myers sold 1,298 shares of California BanCorp stock. The shares were sold at an average price of $21.90, for a total transaction of $28,426.20.
• On Thursday, May 9th, Scott Alexander Myers sold 174 shares of California BanCorp stock. The shares were sold at an average price of $21.85, for a total transaction of $3,801.90.

California BanCorp Price Performance

Shares of NASDAQ CALB opened at $25.09 on Thursday. California BanCorp has a twelve month low of $18.05 and a twelve month high of $27.82. The firm has a fifty day simple moving average of $22.01 and a 200 day simple moving average of $22.45. The company has a market capitalization of $212.51 million, a PE ratio of 10.59 and a beta of 0.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27.

California BanCorp (NASDAQ:CALB) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $19.42 million during the quarter, compared to analysts’ expectations of $19.50 million. California BanCorp had a net margin of 7.47% and a return on equity of 4.97%. On average, sell-side analysts forecast that California BanCorp will post 2.15 EPS for the current year.

Institutional Investors Weigh In On California BanCorp

A number of large investors have recently bought and sold shares of CALB. Perigon Wealth Management LLC acquired a new position in shares of California BanCorp during the fourth quarter valued at about $210,000. Bedell Frazier Investment Counselling LLC acquired a new position in shares of California BanCorp during the fourth quarter valued at about $216,000. Bank of New York Mellon Corp acquired a new position in shares of California BanCorp during the second quarter valued at about $474,000. Mendon Capital Advisors Corp acquired a new position in shares of California BanCorp during the fourth quarter valued at about $583,000. Finally, Wasatch Advisors LP grew its holdings in shares of California BanCorp by 2.3% during 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 last quarter. 59.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial reissued an “overweight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of California BanCorp in a research note on Monday, May 6th. DA Davidson dropped their price target on shares of California BanCorp from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of California BanCorp from $23.50 to $23.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $26.25.

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.