California BanCorp reports results for the quarter ended in June - Earnings Summary

California BanCorp

29/07/2024 22:07

* California BanCorp  CALB.OQ  reported a quarterly adjusted
loss
of 69 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 65 cents.  The mean expectation of two analysts for the
quarter was for earnings of 52 cents per share. Wall Street
expected results to range from 52 cents to 53 cents per share.
    * Revenue fell 7.3% to $18.34 million from a year ago;
analysts
expected $19.46 million. 
    * California BanCorp's reported EPS for the quarter was a
loss
of 69 cents​.
    * The company reported a quarterly loss of $5.86 million.
    * California BanCorp shares had risen by 13.3% this
quarter and
lost 1.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.4%
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," no
"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 $24.00 
This summary was machine generated from LSEG data July 29 at
09:06 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.52           -0.69          Missed
 Mar. 31 2024      0.54           0.45           Missed
 Dec. 31 2023      0.61           0.63           Beat
 Sep. 30 2023      0.62           0.64           Beat