California BanCorp (BCAL) to Issue Quarterly Dividend of $0.12 on October 15th

California BanCorp (NASDAQ:BCAL) declared a quarterly dividend on Thursday, July 23rd. 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 2.2%. 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 Down 0.5%

Shares of NASDAQ BCAL opened at $21.80 on Friday. The stock has a market capitalization of $700.87 million, a PE ratio of 11.85 and a beta of 0.92. California BanCorp has a twelve month low of $15.85 and a twelve month high of $22.41. The stock has a fifty day simple moving average of $21.43 and a 200-day simple moving average of $19.77.

California BanCorp (NASDAQ:BCAL) last announced its earnings results on Monday, July 27th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $44.08 million during the quarter, compared to analysts’ expectations of $45.07 million. California BanCorp had a return on equity of 10.44% and a net margin of 26.01%. On average, equities analysts predict that California BanCorp will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on BCAL. Stephens lifted their target price on California BanCorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. DA Davidson lifted their price objective on California BanCorp from $23.50 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Raymond James Financial began coverage on shares of California BanCorp in a research note on Thursday, August 20th. They set an “outperform” rating and a $25.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of California BanCorp from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of California BanCorp in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.50.

California BanCorp Company Profile

California BanCorp (NASDAQ: BCAL) is a bank holding company for California Bank of Commerce, a full-service commercial bank focused on serving businesses, professionals, nonprofit organizations and individuals. The bank provides relationship-based banking and financial services through its California operations.

Its products and services include commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration lending, business and personal deposit accounts, treasury management and cash-management services.