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

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

California BanCorp Trading Down 0.5%

NASDAQ:BCAL traded down $0.10 during trading hours on Thursday, reaching $18.94. 100,361 shares of the company traded hands, compared to its average volume of 160,847. The business’s 50-day moving average price is $18.40 and its two-hundred day moving average price is $18.66. The stock has a market capitalization of $609.30 million, a P/E ratio of 10.40 and a beta of 1.01. California BanCorp has a 1 year low of $14.07 and a 1 year high of $20.47.

California BanCorp (NASDAQ:BCAL) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business 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%. As a group, equities analysts anticipate that California BanCorp will post 1.68 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BCAL. EverSource Wealth Advisors LLC raised its stake in shares of California BanCorp by 26,512.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock worth $34,000 after purchasing an additional 2,121 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of California BanCorp in the fourth quarter worth $36,000. Royal Bank of Canada raised its stake in shares of California BanCorp by 215.4% in the first quarter. Royal Bank of Canada now owns 2,094 shares of the company’s stock worth $37,000 after purchasing an additional 1,430 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of California BanCorp by 508.7% in the third quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock worth $37,000 after purchasing an additional 1,862 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of California BanCorp in the third quarter worth $64,000. Hedge funds and other 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.