Raymond James Financial Inc. acquired a new position in shares of Southern California Bancorp (NASDAQ:BCAL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,740 shares of the company's stock, valued at approximately $641,000. Raymond James Financial Inc. owned about 0.12% of Southern California Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BCAL. SG Americas Securities LLC increased its stake in shares of Southern California Bancorp by 22.0% in the fourth quarter. SG Americas Securities LLC now owns 10,163 shares of the company's stock worth $168,000 after purchasing an additional 1,833 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Southern California Bancorp by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,261 shares of the company's stock worth $1,129,000 after buying an additional 2,249 shares during the last quarter. Vanguard Group Inc. raised its position in Southern California Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,288,260 shares of the company's stock valued at $21,308,000 after purchasing an additional 3,897 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Southern California Bancorp by 20.8% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 46,718 shares of the company's stock valued at $773,000 after buying an additional 8,047 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Southern California Bancorp in the 4th quarter worth approximately $176,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, DA Davidson decreased their price target on Southern California Bancorp from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th.
Check Out Our Latest Stock Analysis on BCAL
Southern California Bancorp Stock Down 1.1 %
Shares of BCAL traded down $0.16 during mid-day trading on Friday, hitting $14.57. 42,462 shares of the company's stock traded hands, compared to its average volume of 86,400. The firm has a market capitalization of $472.10 million, a P/E ratio of 76.69 and a beta of 1.20. The business's 50-day moving average price is $13.95 and its 200-day moving average price is $15.50. Southern California Bancorp has a 1 year low of $11.87 and a 1 year high of $18.49.
Southern California Bancorp (NASDAQ:BCAL - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.38 by $0.14. Southern California Bancorp had a net margin of 2.94% and a return on equity of 8.97%. The firm had revenue of $44.82 million during the quarter, compared to analysts' expectations of $44.86 million. Sell-side analysts anticipate that Southern California Bancorp will post 1.81 earnings per share for the current fiscal year.
Southern California Bancorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback 1,600,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.
About Southern California Bancorp
(
Free Report)
Southern California Bancorp operates as the holding company for Bank of Southern California, N.A. that provides various financial products to individuals, professionals, and small-to medium-sized businesses. The company offers checking, personal and business savings, and money market accounts, as well as certificates of deposit.
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