California BanCorp (CALB) to Release 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 released its quarterly earnings results on Tuesday, January 30th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $29.74 million during the quarter, compared to analyst estimates 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 Down 0.5 %

Shares of California BanCorp stock opened at $21.32 on Tuesday. California BanCorp has a 1-year low of $12.78 and a 1-year high of $27.82. The company has a market capitalization of $179.30 million, a PE ratio of 8.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average of $22.48 and a 200-day moving average of $22.81.

Wall Street Analyst Weigh In

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

Insider Transactions at California BanCorp

In related news, EVP Scott Alexander Myers sold 2,564 shares of the business’s 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 sale, the executive vice president now owns 20,075 shares of the company’s stock, valued at approximately $495,451. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.75% of the company’s stock.

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.