Shares in Beverly Hills Bancorp Inc. rose more than 4 percent Thursday after the firm disclosed that it is exploring a possible sale of the company.

The Calabasas-based holding company of the First Bank of Beverly Hills said in a filing with the Securities and Exchange Commission that it has retained Hovde Financial Inc. as its exclusive financial adviser and is seeking “strategic alternatives,” including a sale.

Beverly Hills Bancorp conducts wholesale banking operations and originates construction and permanent real estate loans, mainly for commercial and multifamily uses. Most of its borrowers are in California and other Western states.

Shares in Beverly Hills Bancorp rose 31 cents, or 4.1 percent in afternoon trading Thursday on the Nasdaq.