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Stephen Cortese Is The Chairman of the Board of California BanCorp (NASDAQ:CALB) And They Just Picked Up 5.4% More Shares

Simply Wall St

Potential California BanCorp (NASDAQ:CALB) shareholders may wish to note that the Chairman of the Board, Stephen Cortese, recently bought US$139k worth of stock, paying US$13.21 for each share. Although the purchase only increased their holding by 5.4%, it is still a solid purchase in our view.

View our latest analysis for California BanCorp

California BanCorp Insider Transactions Over The Last Year

Notably, that recent purchase by Stephen Cortese is the biggest insider purchase of California BanCorp shares that we've seen in the last year. That implies that an insider found the current price of US$13.40 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. Happily, the California BanCorp insiders decided to buy shares at close to current prices.

While California BanCorp insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
insider-trading-volume

California BanCorp is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that California BanCorp insiders own 8.3% of the company, worth about US$9.0m. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

What Might The Insider Transactions At California BanCorp Tell Us?

The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that California BanCorp insiders are expecting a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 1 warning sign for California BanCorp and we suggest you have a look.

Of course California BanCorp may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.