Citadel Advisors LLC Makes New Investment in Southern California Bancorp (NASDAQ:BCAL)

Citadel Advisors LLC purchased a new position in shares of Southern California Bancorp (NASDAQ:BCAL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 59,601 shares of the company's stock, valued at approximately $986,000. Citadel Advisors LLC owned about 0.19% of Southern California Bancorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Southern California Bancorp by 417.3% during the third quarter. JPMorgan Chase & Co. now owns 26,508 shares of the company's stock valued at $392,000 after buying an additional 21,384 shares during the period. SG Americas Securities LLC boosted its holdings in Southern California Bancorp by 22.0% during the 4th quarter. SG Americas Securities LLC now owns 10,163 shares of the company's stock valued at $168,000 after acquiring an additional 1,833 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Southern California Bancorp during the 4th quarter valued at about $264,000. Bank of New York Mellon Corp grew its position in Southern California Bancorp by 26.7% during the 4th quarter. Bank of New York Mellon Corp now owns 64,824 shares of the company's stock worth $1,072,000 after acquiring an additional 13,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 2,249 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Southern California Bancorp Trading Up 0.1%

Shares of BCAL stock traded up $0.01 during mid-day trading on Friday, reaching $14.95. The stock had a trading volume of 46,034 shares, compared to its average volume of 88,439. The firm has a market capitalization of $484.57 million, a PE ratio of 78.69 and a beta of 1.20. The stock's 50-day moving average price is $13.93 and its two-hundred day moving average price is $15.48. Southern California Bancorp has a 52-week low of $11.87 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.14. The company had revenue of $44.82 million for the quarter, compared to analysts' expectations of $44.86 million. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. On average, equities research analysts forecast that Southern California Bancorp will post 1.81 earnings per share for the current year.

Southern California Bancorp declared that its board has initiated a stock buyback 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. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price objective on Southern California Bancorp from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, January 30th.

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.