Elizabeth Park Capital Advisors Ltd. Acquires Shares of 142,646 California BanCorp $BCAL

Elizabeth Park Capital Advisors Ltd. acquired a new stake in California BanCorp (NASDAQ:BCAL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 142,646 shares of the company’s stock, valued at approximately $2,663,000. California BanCorp accounts for approximately 2.2% of Elizabeth Park Capital Advisors Ltd.’s holdings, making the stock its 21st biggest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.44% of California BanCorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans acquired a new position in California BanCorp in the 3rd quarter valued at $445,000. Strs Ohio acquired a new position in California BanCorp in the 4th quarter valued at $569,000. State of Wyoming increased its stake in California BanCorp by 83.8% in the 4th quarter. State of Wyoming now owns 7,007 shares of the company’s stock valued at $131,000 after buying an additional 3,195 shares during the period. BNP Paribas Financial Markets increased its stake in California BanCorp by 12.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company’s stock valued at $82,000 after buying an additional 545 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in California BanCorp by 87.9% in the 4th quarter. Russell Investments Group Ltd. now owns 4,187 shares of the company’s stock valued at $78,000 after buying an additional 1,959 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

California BanCorp Stock Down 0.9%

NASDAQ:BCAL opened at $19.50 on Thursday. California BanCorp has a fifty-two week low of $14.07 and a fifty-two week high of $20.47. The stock has a market cap of $627.32 million, a PE ratio of 10.66 and a beta of 0.99. The firm’s fifty day simple moving average is $18.90 and its 200-day simple moving average is $18.70.

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

California BanCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. California BanCorp’s dividend payout ratio (DPR) is currently 21.86%.

Insider Buying and Selling at California BanCorp

In other news, President Richard Hernandez sold 17,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $19.12, for a total value of $325,040.00. Following the completion of the transaction, the president owned 72,935 shares in the company, valued at $1,394,517.20. This trade represents a 18.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BCAL shares. DA Davidson boosted their price objective on shares of California BanCorp from $21.50 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of California BanCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.67.

California BanCorp Company Profile

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.