California BanCorp (NASDAQ:BCAL) Declares Dividend Increase – $0.12 Per Share

California BanCorp (NASDAQ:BCAL) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Monday, September 21st will be given a dividend of 0.12 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, September 21st. This is a 20.0% increase from California BanCorp’s previous quarterly dividend of $0.10.

California BanCorp Trading Up 0.9%

NASDAQ BCAL traded up $0.19 during midday trading on Monday, hitting $21.21. The company had a trading volume of 323,102 shares, compared to its average volume of 223,840. The company has a market capitalization of $682.33 million, a PE ratio of 11.59 and a beta of 0.93. The firm has a 50-day moving average price of $20.04 and a 200-day moving average price of $18.97. California BanCorp has a twelve month low of $14.56 and a twelve month high of $22.00.

California BanCorp (NASDAQ:BCAL) last released its earnings results on Monday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. California BanCorp had a return on equity of 10.59% and a net margin of 25.68%. On average, equities analysts anticipate that California BanCorp will post 1.7 EPS for the current year.

Insider Buying and Selling at California BanCorp

In other 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 value of $325,040.00. Following the transaction, the president owned 72,935 shares in the company, valued at approximately $1,394,517.20. This trade represents a 18.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.14% of the company’s stock.

Institutional Trading of California BanCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in California BanCorp by 1.2% in the first 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 last quarter. 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 worth $172,000 after acquiring an additional 704 shares during the last quarter. Jane Street Group LLC bought a new position in shares of California BanCorp in the first quarter worth about $357,000. Creative Planning bought a new position in shares of California BanCorp in the second quarter worth about $335,000. Finally, American Century Companies Inc. boosted its stake in shares of California BanCorp by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 48,045 shares of the company’s stock valued at $757,000 after purchasing an additional 6,298 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

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.