Bank of America Corp DE Purchases 33,590 Shares of Southern California Bancorp (NASDAQ:BCAL)

Bank of America Corp DE grew its stake in Southern California Bancorp (NASDAQ:BCAL - Free Report) by 156.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,089 shares of the company's stock after purchasing an additional 33,590 shares during the period. Bank of America Corp DE owned approximately 0.17% of Southern California Bancorp worth $911,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BCAL. Tower Research Capital LLC TRC lifted its stake in shares of Southern California Bancorp by 265.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company's stock valued at $47,000 after purchasing an additional 2,068 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Southern California Bancorp in the 4th quarter valued at approximately $102,000. SG Americas Securities LLC lifted its stake in shares of Southern California Bancorp by 22.0% in the 4th quarter. SG Americas Securities LLC now owns 10,163 shares of the company's stock valued at $168,000 after purchasing an additional 1,833 shares during the last quarter. Davidson Kahn Capital Management LLC bought a new stake in shares of Southern California Bancorp in the 4th quarter valued at approximately $172,000. Finally, Intech Investment Management LLC bought a new stake in shares of Southern California Bancorp in the 4th quarter valued at approximately $176,000. 55.40% of the stock is owned by institutional investors.

Southern California Bancorp Stock Performance

Shares of BCAL stock opened at $14.77 on Friday. Southern California Bancorp has a 52-week low of $11.87 and a 52-week high of $18.49. The firm has a market capitalization of $478.74 million, a P/E ratio of 77.74 and a beta of 1.21. The stock has a 50 day moving average price of $13.95 and a 200 day moving average price of $15.36.

Southern California Bancorp (NASDAQ:BCAL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. The firm had revenue of $44.82 million during the quarter, compared to analyst estimates of $44.86 million. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. As a group, sell-side analysts forecast that Southern California Bancorp will post 1.81 EPS for the current year.

Southern California Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase 1,600,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

About Southern California Bancorp

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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