California BanCorp $BCAL Stock Holdings Increased by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp grew its holdings in shares of California BanCorp (NASDAQ:BCAL) by 58.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 404,369 shares of the company’s stock after acquiring an additional 149,491 shares during the quarter. California BanCorp comprises approximately 2.1% of Mendon Capital Advisors Corp’s holdings, making the stock its 14th largest position. Mendon Capital Advisors Corp owned approximately 1.26% of California BanCorp worth $7,165,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in California BanCorp by 12.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,942 shares of the company’s stock valued at $82,000 after buying an additional 545 shares in the last quarter. Invesco Ltd. grew its holdings in California BanCorp by 4.4% during the fourth quarter. Invesco Ltd. now owns 16,154 shares of the company’s stock worth $302,000 after acquiring an additional 680 shares during the period. Empowered Funds LLC grew 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 purchasing an additional 704 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of California BanCorp by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,655 shares of the company’s stock worth $998,000 after purchasing an additional 846 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in California BanCorp by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,988 shares of the company’s stock valued at $243,000 after purchasing an additional 978 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other California BanCorp news, President Richard Hernandez sold 17,000 shares of California BanCorp stock in a transaction on Friday, May 8th. The shares were sold at an average price of $19.12, for a total transaction of $325,040.00. Following the sale, the president owned 72,935 shares in the company, valued at $1,394,517.20. The trade was a 18.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.14% of the stock is owned by corporate insiders.

California BanCorp Price Performance

NASDAQ BCAL opened at $21.02 on Monday. California BanCorp has a 52-week low of $14.56 and a 52-week high of $21.70. The firm has a market capitalization of $676.21 million, a price-to-earnings ratio of 11.49 and a beta of 0.93. The company’s fifty day moving average is $20.04 and its two-hundred day moving average is $18.97.

California BanCorp (NASDAQ:BCAL) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. California BanCorp had a return on equity of 10.59% and a net margin of 25.68%.The company had revenue of $44.22 million during the quarter. As a group, sell-side analysts expect that California BanCorp will post 1.7 earnings per share for the current fiscal year.

California BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, June 23rd. California BanCorp’s dividend payout ratio (DPR) is 21.86%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BCAL. Zacks Research upgraded California BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings restated a “buy (b)” rating on shares of California BanCorp in a research report on Wednesday, June 24th. Finally, DA Davidson boosted their price objective on shares of California BanCorp from $21.50 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.67.

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.