Y Intercept Hong Kong Ltd Takes Position in California BanCorp $BCAL

Y Intercept Hong Kong Ltd purchased a new position in California BanCorp (NASDAQ:BCAL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,251 shares of the company’s stock, valued at approximately $997,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in California BanCorp by 26,512.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $34,000 after acquiring an additional 2,121 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in California BanCorp in the 4th quarter worth approximately $36,000. Russell Investments Group Ltd. boosted its holdings in California BanCorp by 508.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,228 shares of the company’s stock valued at $37,000 after purchasing an additional 1,862 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 545 shares during the period. Finally, Daytona Street Capital LLC purchased a new position in shares of California BanCorp during the 4th quarter valued at $90,000. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BCAL has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of California BanCorp in a research report on Wednesday, June 24th. Zacks Research upgraded California BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, DA Davidson upped their target price on California BanCorp from $21.50 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, California BanCorp currently has an average rating of “Buy” and a consensus target price of $20.67.

California BanCorp Price Performance

BCAL stock traded up $0.18 during midday trading on Friday, reaching $20.66. The company had a trading volume of 145,410 shares, compared to its average volume of 248,802. The firm has a 50-day moving average price of $19.59 and a 200-day moving average price of $18.81. The company has a market capitalization of $664.63 million, a P/E ratio of 11.29 and a beta of 0.93. California BanCorp has a 1 year low of $14.56 and a 1 year high of $21.50.

California BanCorp (NASDAQ:BCAL) last posted 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. California BanCorp had a net margin of 25.68% and a return on equity of 10.59%. The firm had revenue of $44.22 million for the quarter. On average, equities analysts predict that California BanCorp will post 1.7 EPS for the current year.

California BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.9%. California BanCorp’s dividend payout ratio (DPR) is presently 21.86%.

Insider Transactions at California BanCorp

In other California BanCorp news, President Richard Hernandez sold 17,000 shares of California BanCorp stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $19.12, for a total transaction of $325,040.00. Following the completion of the sale, the president owned 72,935 shares of the company’s stock, valued at $1,394,517.20. The trade was a 18.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.14% of the stock is currently owned by company insiders.

California BanCorp 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.