California BanCorp (BCAL) to Issue Quarterly Dividend of $0.10 on July 15th

California BanCorp (NASDAQ:BCAL) announced a quarterly dividend on Thursday, May 28th. Stockholders of record on Tuesday, June 23rd will be given a dividend of 0.10 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, June 23rd.

California BanCorp Stock Up 0.2%

NASDAQ:BCAL opened at $18.98 on Friday. The company has a fifty day moving average of $18.44 and a 200-day moving average of $18.66. The firm has a market capitalization of $610.59 million, a P/E ratio of 10.37 and a beta of 1.01. California BanCorp has a twelve month low of $14.07 and a twelve month high of $20.47.

California BanCorp (NASDAQ:BCAL) last released its quarterly earnings data on Friday, May 8th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company 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%. On average, analysts anticipate that California BanCorp will post 1.68 EPS for the current fiscal year.

Insider Transactions at California BanCorp

In other news, CFO Jean Carandang sold 8,000 shares of California BanCorp stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $17.90, for a total transaction of $143,200.00. Following the completion of the transaction, the chief financial officer directly owned 37,174 shares in the company, valued at $665,414.60. This trade represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Richard Hernandez sold 17,000 shares of California BanCorp stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $19.12, for a total transaction of $325,040.00. Following the transaction, the president owned 72,935 shares of the company’s stock, valued at $1,394,517.20. This represents a 18.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of California BanCorp by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 2,882,833 shares of the company’s stock valued at $53,822,000 after buying an additional 802,947 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of California BanCorp by 4.6% during the first quarter. The Manufacturers Life Insurance Company now owns 795,309 shares of the company’s stock valued at $14,093,000 after buying an additional 34,945 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of California BanCorp by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 470,192 shares of the company’s stock valued at $8,331,000 after buying an additional 155,744 shares during the last quarter. Mendon Capital Advisors Corp grew its holdings in shares of California BanCorp by 58.7% during the first quarter. Mendon Capital Advisors Corp now owns 404,369 shares of the company’s stock valued at $7,165,000 after buying an additional 149,491 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in shares of California BanCorp by 77.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 363,664 shares of the company’s stock worth $6,066,000 after acquiring an additional 158,270 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.