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California BanCorp offers compelling value with a P/E of 9.7 and strong asset quality, warranting a 'Buy' rating. BCAL's growth is driven by strategic mergers, notably the 2024 acquisition of California Bank of Commerce, boosting deposits and loans. Asset quality is robust, with return on assets at 1.58% and nonperforming assets at 0.40%, though nonperforming loans slightly exceed the 0.50% target.
New Los Angeles-Based Media Venture to Bring World Class Coverage and Indispensable Reporting to California NEW YORK , Aug. 4, 2025 /PRNewswire/ -- New York Post Media Group (NYPMG)—home of The New York Post, Page Six and Decider—is launching a new media venture, The California Post, in early 2026. The California Post will offer readers a unique and indispensable combination of fearless, common-sense journalism, celebrity and entertainment news, world class sports reporting and the legendary covers people expect from The New York Post—but from a distinctly Californian perspective.
SAN DIEGO and OAKLAND, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Southern California Bancorp (NASDAQ: BCAL), the holding company for Bank of Southern California, N.A., and California BanCorp, the holding company for California Bank of Commerce, announce the successful closing of their previously announced merger of equals. Effective July 31, 2024, California BanCorp has merged with and into Southern California Bancorp, and California Bank of Commerce has merged with and into Bank of Southern California, N.A. The combined holding company has assumed the California BanCorp name, and the combined bank has assumed the California Bank of Commerce, N.A. name. The combined holding company will trade on the Nasdaq Capital Market under the symbol “BCAL.”
California Bank of Commerce (CALB) came out with a quarterly loss of $0.68 per share versus the Zacks Consensus Estimate of $0.52. This compares to earnings of $0.65 per share a year ago.
OAKLAND, Calif., July 29, 2024 (GLOBE NEWSWIRE) -- California BanCorp (NASDAQ: CALB) (the “Company”), whose subsidiary is California Bank of Commerce, announced today its financial results for the second quarter and six months ended June 30, 2024.
NEW YORK , July 11, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating California BanCorp (NASDAQ: CALB ), relating to its proposed merger with Southern California Bancorp.
NEW YORK , June 7, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating California BanCorp (NASDAQ: CALB ), relating to its proposed merger with Southern California Bancorp.
ADNT, CALB and CTRE have been added to the Zacks Rank #5 (Strong Sell) List on June 6, 2024.
BABA, CALB and FSRL have been added to the Zacks Rank #5 (Strong Sell) List on May 23, 2024.
Swiss National Bank grew its stake in shares of Banc of California, Inc. (NYSE:BANC – Free Report) by 156.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,114 shares of the bank’s stock after buying an additional 180,214 shares during the period. Swiss National Bank owned 0.51% of Banc of California worth $3,963,000 at the end of the most recent reporting period. A number of other institutional investors also recently made changes to their positions in BANC. Victory Capital Management Inc. grew its stake in Banc of California by 69.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,876,594 shares of the bank’s stock worth $23,232,000 after acquiring an additional 770,938 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of Banc of California by 290.3% in the third quarter. Brandywine Global Investment Management LLC now owns 727,452 shares of the bank’s stock valued at $9,006,000 after purchasing an additional 541,052 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Banc of California in the third quarter valued at $6,366,000. One Fin Capital Management LP purchased a new position in Banc of California during the third quarter worth about $5,132,000. Finally, South Dakota Investment Council boosted its stake in Banc of California by 238.8% in the 4th quarter. South Dakota Investment Council now owns 571,063 shares of the bank’s stock worth $7,669,000 after buying an additional 402,498 shares during the last quarter. 86.88% of the stock is owned by institutional investors and hedge funds. Insider Buying and Selling at Banc of California In other Banc of California news, Director Richard J. Lashley bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $21.40 per share, with a total value of $214,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $214,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Banc of California news, CEO Jared M. Wolff bought 7,130 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $13.98 per share, with a total value of $99,677.40. Following the transaction, the chief executive officer now directly owns 268,695 shares in the company, valued at approximately $3,756,356.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Lashley purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $21.40 per share, with a total value of $214,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $214,000. The disclosure for this purchase can be found here. 7.37% of the stock is currently owned by corporate insiders. Banc of California Stock Performance Shares of NYSE:BANC opened at $14.59 on Monday. The business’s 50-day simple moving average is $14.42 and its 200 day simple moving average is $13.64. The company has a market cap of $2.29 billion, a P/E ratio of -4.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California, Inc. has a one year low of $9.96 and a one year high of $16.08. Banc of California (NYSE:BANC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The firm had revenue of $522.57 million for the quarter, compared to analysts’ expectations of $296.02 million. Banc of California had a negative net margin of 29.10% and a positive return on equity of 2.25%. During the same quarter in the prior year, the business earned $0.37 EPS. On average, sell-side analysts forecast that Banc of California, Inc. will post 1.14 earnings per share for the current fiscal year. Banc of California Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.10 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.74%. Banc of California’s payout ratio is currently -12.01%. Wall Street Analysts Forecast Growth A number of research analysts have recently commented on the stock. StockNews.com raised shares of Banc of California to a “sell” rating in a research note on Thursday, April 25th. Truist Financial cut their price target on shares of Banc of California from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Stephens lowered their price objective on shares of Banc of California from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 14th. Piper Sandler cut their target price on Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Finally, Wedbush lowered their price target on Banc of California from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.31. View Our Latest Stock Analysis on BANC Banc of California Profile (Free Report) Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.
SAN DIEGO and OAKLAND, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Southern California Bancorp (Nasdaq: BCAL) and California BanCorp (Nasdaq: CALB) announce they have received required regulatory approvals from the Office of the Comptroller of the Currency and the Federal Reserve Bank of San Francisco necessary to complete their previously announced merger of equals between the two bank holding companies and their respective subsidiaries, Bank of Southern California, N.A., and California Bank of Commerce. Under the terms of the agreement, dated January 30, 2024, California BanCorp will merge with and into Southern California Bancorp. The consummation of the proposed transaction is expected to close in the third quarter of 2024, subject to the satisfaction of the remaining closing conditions set forth in the merger agreement, including receipt of the requisite shareholder approvals.
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of California BanCorp (the “Company”) (NasdaqGS: CALB) to Southern California Bancorp (“SCB”) (NasdaqCM: BCAL). Under the terms of the proposed transaction, shareholders of California BanCorp will receive 1.590 shares of SCB for each share of California BanCorp that they own. KSF is seeking to determine whether t.
California Bank of Commerce (CALB) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.64 per share a year ago.
OAKLAND, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- California BanCorp (NASDAQ: CALB) (the “Company”), whose subsidiary is California Bank of Commerce, announced today its financial results for the first quarter ended March 31, 2024.
California Bank of Commerce (CALB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of California BanCorp (the “Company”) (NasdaqGS: CALB) to Southern California Bancorp (“SCB”) (NasdaqCM: BCAL). Under the terms of the proposed transaction, shareholders of California BanCorp will receive 1.590 shares of SCB for each share of California BanCorp that they own. KSF is seeking to determine whether t.
MILWAUKEE , Jan. 31, 2024 /PRNewswire/ -- Ademi LLP is investigating California BanCorp (Nasdaq: CALB) for possible breaches of fiduciary duty and other violations of law in its transaction with Southern California Bancorp. Click here to learn how to join the https://www.ademilaw.com/case/california-bancorp or call Guri Ademi toll-free at 866-264-3995.
California Bank of Commerce (CALB) came out with quarterly earnings of $0.63 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.91 per share a year ago.
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of California BanCorp (NASDAQ: CALB) to Southern California Bancorp for 1.590 shares of Southern California common stock for each share of California BanCorp common stock is fair to California BanCorp shareholders. Upon completion of the proposed transaction, California BanCorp shareholders will own approximately 42.9% of the outstanding shares of the combined company. Halper Sadeh encour.
OAKLAND, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- California BanCorp (NASDAQ: CALB) (the “Company”), whose subsidiary is California Bank of Commerce, announced today its financial results for the fourth quarter and twelve months ended December 31, 2023.