California Bank of Commerce (CALB) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - California Bank of Commerce (CALB) reported a quarterly loss of $0.68 per share, missing the Zacks Consensus Estimate of $0.52, and down from earnings of $0.65 per share a year ago [1] - The company posted revenues of $18.34 million for the quarter, missing the Zacks Consensus Estimate by 5.46%, and down from $19.78 million year-over-year [8] - The quarterly report represents an earnings surprise of -230.77%, with a previous expectation of $0.55 per share resulting in an actual earnings of $0.57, delivering a surprise of 3.64% [7] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.53 on revenues of $19.8 million, and for the current fiscal year, it is $2.15 on revenues of $78.6 million [11] - The estimate revisions trend for California Bank of Commerce is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [5] Industry Context - The Zacks Industry Rank for Banks - Southwest, which includes California Bank of Commerce, is currently in the top 41% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [10]