California BanCorp (NASDAQ:BCAL) Director Purchases $503,280.00 in Stock

California BanCorp (NASDAQ:BCAL) Director David Volk bought 27,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were acquired at an average price of $18.64 per share, for a total transaction of $503,280.00. Following the completion of the transaction, the director directly owned 28,195 shares in the company, valued at approximately $525,554.80. This trade represents a 2,259.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

California BanCorp Trading Up 1.6%

NASDAQ BCAL opened at $19.16 on Friday. The stock has a market capitalization of $619.25 million, a price-to-earnings ratio of 9.93 and a beta of 1.19. The stock has a 50-day moving average of $18.96 and a 200 day moving average of $17.75. California BanCorp has a twelve month low of $11.87 and a twelve month high of $20.47.

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

California BanCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 24th were paid 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 Wednesday, December 24th. California BanCorp’s dividend payout ratio is currently 20.73%.

Institutional Trading of California BanCorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in California BanCorp by 199.4% during the third quarter. Wellington Management Group LLP now owns 2,079,886 shares of the company’s stock worth $34,692,000 after buying an additional 1,385,202 shares during the period. FJ Capital Management LLC lifted its holdings in shares of California BanCorp by 20.2% in the 2nd quarter. FJ Capital Management LLC now owns 1,271,636 shares of the company’s stock worth $20,041,000 after acquiring an additional 213,711 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of California BanCorp by 77.1% during the 3rd quarter. Kennedy Capital Management LLC now owns 363,664 shares of the company’s stock worth $6,066,000 after purchasing an additional 158,270 shares during the period. Dimensional Fund Advisors LP increased its holdings in California BanCorp by 44.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 218,677 shares of the company’s stock valued at $3,648,000 after purchasing an additional 67,238 shares during the last quarter. Finally, Marshall Wace LLP raised its position in California BanCorp by 305.9% in the second quarter. Marshall Wace LLP now owns 88,808 shares of the company’s stock valued at $1,400,000 after purchasing an additional 66,931 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.