California BanCorp (CALB) to Release Earnings on Wednesday

California BanCorp (NASDAQ:CALB) will be posting its quarterly earnings results on Wednesday, April 24th.

California BanCorp (NASDAQ:CALB) last announced its earnings results on Tuesday, January 30th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $29.74 million during the quarter, compared to the consensus estimate of $20.10 million. California BanCorp had a net margin of 18.96% and a return on equity of 11.55%. 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 Stock Performance

Shares of CALB stock opened at $21.32 on Tuesday. The stock’s 50-day moving average price is $22.48 and its 200 day moving average price is $22.81. 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 stock has a market capitalization of $179.30 million, a PE ratio of 8.33 and a beta of 0.92. California BanCorp has a 52-week low of $12.78 and a 52-week high of $27.82.

Insider Activity

In related news, EVP Scott Alexander Myers sold 2,564 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $24.68, for a total transaction of $63,279.52. Following the completion of the transaction, the executive vice president now directly owns 20,075 shares of the company’s stock, valued at $495,451. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their target price on California BanCorp from $26.50 to $23.50 and set an “outperform” rating on the stock in a report 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.