California BanCorp to Issue Quarterly Dividend of $0.10 (NASDAQ:BCAL)

California BanCorp (NASDAQ:BCAL) declared a quarterly dividend on Thursday, May 28th. Stockholders of record on Tuesday, June 23rd will be given a dividend of 0.10 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, June 23rd.

California BanCorp Stock Performance

Shares of BCAL stock traded down $0.10 during mid-day trading on Thursday, hitting $18.94. The company’s stock had a trading volume of 100,361 shares, compared to its average volume of 160,847. California BanCorp has a 52-week low of $14.07 and a 52-week high of $20.47. The business has a 50-day moving average price of $18.40 and a 200 day moving average price of $18.66. The stock has a market cap of $609.30 million, a price-to-earnings ratio of 10.40 and a beta of 1.01.

California BanCorp (NASDAQ:BCAL) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $44.22 million during the quarter. California BanCorp had a return on equity of 10.59% and a net margin of 25.68%. Equities research analysts predict that California BanCorp will post 1.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jean Carandang sold 8,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $17.90, for a total transaction of $143,200.00. Following the completion of the sale, the chief financial officer owned 37,174 shares in the company, valued at approximately $665,414.60. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Richard Hernandez sold 17,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $19.12, for a total value of $325,040.00. Following the sale, the president owned 72,935 shares of the company’s stock, valued at approximately $1,394,517.20. This trade represents a 18.90% decrease in their position. The SEC filing for this sale provides additional information. 8.14% of the stock is currently owned by corporate insiders.

Institutional Trading of California BanCorp

Several hedge funds have recently bought and sold shares of BCAL. EverSource Wealth Advisors LLC grew its holdings in California BanCorp by 26,512.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $34,000 after purchasing an additional 2,121 shares during the period. Cullen Frost Bankers Inc. bought a new stake in California BanCorp during the fourth quarter valued at about $36,000. Royal Bank of Canada grew its holdings in California BanCorp by 215.4% during the first quarter. Royal Bank of Canada now owns 2,094 shares of the company’s stock valued at $37,000 after purchasing an additional 1,430 shares during the period. Russell Investments Group Ltd. grew its holdings in California BanCorp by 508.7% during the third quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after purchasing an additional 1,862 shares during the period. Finally, State of Wyoming bought a new stake in California BanCorp during the third quarter valued at about $64,000. Institutional investors own 55.40% of the company’s stock.

About California BanCorp

California BanCorp (NASDAQ:BCAL) is a bank holding company headquartered in California. Founded to address the diverse financial needs of businesses and individuals across the state, the company focuses on community-oriented banking solutions and operates under a locally based decision-making model.

Through its wholly owned banking subsidiary, California BanCorp offers a suite of deposit products including checking, savings, money market and certificate of deposit accounts. Its lending portfolio encompasses commercial and industrial loans, real estate and construction financing, as well as consumer lending products such as personal loans and home equity lines of credit.

In addition to core deposit and lending services, the company provides treasury and cash management services, online and mobile banking platforms, and merchant payment solutions designed to streamline operations for small to mid-sized enterprises.