Thrivent Financial for Lutherans Invests $445,000 in California BanCorp $BCAL

Thrivent Financial for Lutherans acquired a new position in California BanCorp (NASDAQ:BCAL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,693 shares of the company’s stock, valued at approximately $445,000. Thrivent Financial for Lutherans owned approximately 0.08% of California BanCorp at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of California BanCorp by 6.2% in the first quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock valued at $172,000 after purchasing an additional 704 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in California BanCorp by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock valued at $998,000 after acquiring an additional 846 shares during the period. CWM LLC boosted its holdings in California BanCorp by 143.9% in the 3rd quarter. CWM LLC now owns 2,263 shares of the company’s stock worth $38,000 after buying an additional 1,335 shares during the period. First Trust Advisors LP grew its position in shares of California BanCorp by 7.1% in the second quarter. First Trust Advisors LP now owns 20,685 shares of the company’s stock valued at $326,000 after purchasing an additional 1,377 shares in the last quarter. Finally, PFG Advisors increased its position in shares of California BanCorp by 3.1% during the second quarter. PFG Advisors now owns 54,585 shares of the company’s stock valued at $860,000 after buying an additional 1,635 shares during the period. 55.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

BCAL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on California BanCorp from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of California BanCorp in a report on Monday, December 29th. Zacks Research lowered California BanCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Wall Street Zen cut California BanCorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, DA Davidson dropped their price target on California BanCorp from $22.50 to $21.50 and set a “buy” rating on the stock in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Transactions at California BanCorp

In other news, Director David J. Volk sold 2,346,104 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $18.95, for a total transaction of $44,458,670.80. Following the sale, the director owned 3,729 shares in the company, valued at approximately $70,664.55. The trade was a 99.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.84% of the company’s stock.

California BanCorp Stock Performance

NASDAQ BCAL opened at $19.00 on Wednesday. The stock has a 50 day moving average price of $18.85 and a 200-day moving average price of $17.93. The company has a market capitalization of $614.08 million, a P/E ratio of 9.84 and a beta of 1.19. California BanCorp has a one year low of $11.87 and a one year high of $20.47.

California BanCorp (NASDAQ:BCAL) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $45.90 million for the quarter, compared to the consensus estimate of $45.03 million. California BanCorp had a net margin of 26.60% and a return on equity of 11.51%. As a group, equities analysts predict that California BanCorp will post 1.81 EPS for the current fiscal year.

California BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 24th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, December 24th. California BanCorp’s dividend payout ratio (DPR) is currently 20.73%.

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.