2. First California Financial
Shares of First California Financial Group (FCAL) of Westlake Village closed at $3.75 Thursday, returning 34% during the first quarter.
The company has been expanding by purchasing failed institutions from the Federal Deposit Insurance Corporation, including San Luis Trust Bank, FSB, of San Luis Obispo, Calif., on February 18 and Western Commercial Bank of Woodland Hills, Calif., in November.First California owes $25 million in TARP money. On February 23, Don Worthington of Howe Barnes Hoefer & Arnett reiterated his buy rating and $4 price target for the company's shares, saying the San Luis Trust Bank transaction would be "immediately accretive to earnings," and that the acquisition fit "within FCAL's strategy of cobbling together a regional bank franchise, through both organic growth and acquisitions, that will eventually encompass most of Southern California." Analysts expect First California to earn 4 cents a share during the first quarter, 27 cents a share for all of 2011 and 40 cents a share in 2012. Two of the three analysts covering First California rate the shares a buy, while the remaining analyst has a neutral rating.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV