California BanCorp (CALB) Set to Announce Quarterly Earnings on Wednesday

California BanCorp (NASDAQ:CALB) is scheduled to post its quarterly earnings results on Wednesday, April 24th.

California BanCorp (NASDAQ:CALB) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. California BanCorp had a return on equity of 11.55% and a net margin of 18.96%. The company had revenue of $29.74 million during the quarter, compared to analyst estimates of $20.10 million. On average, analysts expect California BanCorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

California BanCorp Trading Down 0.5 %

Shares of CALB stock opened at $21.32 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $22.48 and a two-hundred day moving average price of $22.81. California BanCorp has a 12-month low of $12.78 and a 12-month high of $27.82. The firm has a market cap of $179.30 million, a P/E ratio of 8.33 and a beta of 0.92.

Insiders Place Their Bets

In other news, EVP Scott Alexander Myers sold 2,564 shares of California BanCorp stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.68, for a total value of $63,279.52. Following the transaction, the executive vice president now owns 20,075 shares in the company, valued at $495,451. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price target on California BanCorp from $26.50 to $23.50 and set an “outperform” rating for the company in a research note on Friday, April 5th.

California BanCorp Company Profile

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.