California Bancorp Posts $14.0M Q3 Profit, EPS $0.43
BCAL sits 28% above its 52-week low of $16.87.
Summary
California Bancorp reported Q3 net income of $14.016 million, or $0.43 per share, on net interest income of $44.144 million. The net interest margin came in at 4.61%, and the quarter included a $3.2 million provision for credit losses. That is a slight step down from Q2, when the bank earned $14.3 million, or $0.44 per share, per its August 10-Q. The quarter is essentially flat sequentially, with no credit or margin surprise in the brief release. The stock trades near its 52-week high, so expectations were already elevated going into the print.
At the time of this announcement, BCAL was trading at $21.59 on NASDAQ in the Finance sector, with a market capitalization of approximately $705.7M. The 52-week trading range was $16.87 to $22.41. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.