California Bancorp reports results for the quarter ended June 30 - Earnings Summary

• California Bancorp BCAL.OQ reported quarterly adjusted earnings of 43 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 1 cents. The mean expectation of three analysts for the quarter was for earnings of 41 cents per share. Wall Street expected results to range from 38 cents to 43 cents per share.

• Revenue rose 99.6% to $44.27 million from a year ago; analysts expected $44.79 million.

• California Bancorp's reported EPS for the quarter was 43 cents​.

• The company reported quarterly net income of $14.1 million.

• California Bancorp shares had risen by 2.0% this quarter and lost 2.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for California Bancorp is $19.00, about 15.4% above its last closing price of $16.07

This summary was machine generated from LSEG data July 29 at 01:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)