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

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

California BanCorp (NASDAQ:CALB) last issued its earnings results on Tuesday, January 30th. The company reported $0.63 EPS for the quarter, topping 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 the consensus estimate 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 Stock Performance

Shares of NASDAQ CALB opened at $21.32 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66. California BanCorp has a 12 month low of $12.78 and a 12 month high of $27.82. The stock has a 50 day moving average of $22.48 and a 200-day moving average of $22.81. The company has a market capitalization of $179.30 million, a P/E ratio of 8.33 and a beta of 0.92.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their target price 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.

Insider Buying and Selling

In related news, EVP Scott Alexander Myers sold 2,564 shares of California BanCorp stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $24.68, for a total transaction of $63,279.52. Following the completion of the sale, the executive vice president now directly owns 20,075 shares of the company’s stock, valued at approximately $495,451. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.75% of the stock is currently owned by insiders.

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.