Endeavour Capital Advisors Inc. Lowers Position in California BanCorp $BCAL

Endeavour Capital Advisors Inc. lowered its stake in California BanCorp (NASDAQ:BCAL) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,765,077 shares of the company’s stock after selling 497,235 shares during the quarter. California BanCorp accounts for 9.2% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its largest position. Endeavour Capital Advisors Inc. owned about 0.05% of California BanCorp worth $32,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in California BanCorp by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock valued at $998,000 after buying an additional 846 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of California BanCorp by 6.2% in the 1st quarter. Empowered Funds LLC now owns 11,969 shares of the company’s stock worth $172,000 after buying an additional 704 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of California BanCorp in the 1st quarter worth $357,000. Creative Planning bought a new stake in shares of California BanCorp in the second quarter worth $335,000. Finally, American Century Companies Inc. grew its holdings in shares of California BanCorp by 15.1% in the second quarter. American Century Companies Inc. now owns 48,045 shares of the company’s stock worth $757,000 after acquiring an additional 6,298 shares during the period. Institutional investors own 55.40% of the company’s stock.

California BanCorp Price Performance

Shares of California BanCorp stock opened at $19.02 on Tuesday. The company’s fifty day simple moving average is $18.31 and its 200-day simple moving average is $18.65. The stock has a market capitalization of $611.87 million, a PE ratio of 10.39 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 issued 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 firm had revenue of $44.22 million during the quarter. California BanCorp had a net margin of 25.68% and a return on equity of 10.59%. As a group, research analysts anticipate that California BanCorp will post 1.68 EPS for the current year.

California BanCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, March 24th. California BanCorp’s payout ratio is currently 21.86%.

Insider Transactions at California BanCorp

In other California BanCorp news, CFO Jean Carandang sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 37,174 shares in the company, valued at $665,414.60. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Richard Hernandez sold 17,000 shares of the firm’s stock in a transaction dated 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 directly owned 72,935 shares in the company, valued at $1,394,517.20. This trade represents a 18.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.14% of the company’s stock.

Analysts Set New Price Targets

BCAL has been the topic of a number of recent research reports. Zacks Research raised California BanCorp from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. DA Davidson boosted their price target on California BanCorp from $21.50 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price 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.