ELCO Management Co. LLC Sells 3,660 Shares of California BanCorp $BCAL

by · The Cerbat Gem

ELCO Management Co. LLC lowered its stake in shares of California BanCorp (NASDAQ:BCAL – Free Report) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,340 shares of the company’s stock after selling 3,660 shares during the period. ELCO Management Co. LLC owned approximately 0.05% of California BanCorp worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BCAL. FJ Capital Management LLC boosted its holdings in California BanCorp by 300.6% during the first quarter. FJ Capital Management LLC now owns 1,057,925 shares of the company’s stock worth $15,160,000 after buying an additional 793,828 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of California BanCorp during the 1st quarter valued at about $2,837,000. Nuveen LLC bought a new position in shares of California BanCorp during the 1st quarter valued at about $436,000. Jane Street Group LLC bought a new position in shares of California BanCorp during the 1st quarter valued at about $357,000. Finally, Jump Financial LLC bought a new position in shares of California BanCorp during the 1st quarter valued at about $228,000. Institutional investors own 55.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BCAL. Stephens upgraded California BanCorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Monday, August 4th. Wall Street Zen cut California BanCorp from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of California BanCorp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $19.50.

View Our Latest Stock Report on California BanCorp

California BanCorp Stock Performance

NASDAQ BCAL opened at $17.70 on Wednesday. The stock has a market capitalization of $575.60 million, a price-to-earnings ratio of 20.34 and a beta of 1.19. The stock’s 50 day moving average price is $16.90 and its two-hundred day moving average price is $15.68. California BanCorp has a 52 week low of $11.87 and a 52 week high of $18.49.

California BanCorp Profile

(Free Report)

Southern California Bancorp operates as the holding company for Bank of Southern California, N.A. that provides various financial products to individuals, professionals, and small-to medium-sized businesses. The company offers checking, personal and business savings, and money market accounts, as well as certificates of deposit.

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