Southern California Bancorp (NASDAQ:BCAL) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its position in Southern California Bancorp (NASDAQ:BCAL - Free Report) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,000 shares of the company's stock after selling 55,000 shares during the quarter. Hennessy Advisors Inc. owned 0.39% of Southern California Bancorp worth $1,791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in Southern California Bancorp by 265.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company's stock worth $47,000 after buying an additional 2,068 shares during the period. GAMMA Investing LLC boosted its position in Southern California Bancorp by 1,581.0% in the 1st quarter. GAMMA Investing LLC now owns 3,883 shares of the company's stock worth $56,000 after purchasing an additional 3,652 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Southern California Bancorp in the fourth quarter valued at approximately $102,000. Davidson Kahn Capital Management LLC acquired a new position in shares of Southern California Bancorp during the 4th quarter worth about $172,000. Finally, Intech Investment Management LLC acquired a new stake in Southern California Bancorp during the 4th quarter worth $176,000. 55.40% of the stock is currently owned by institutional investors.

Southern California Bancorp Price Performance

Southern California Bancorp stock traded up $0.01 during trading on Monday, reaching $14.41. 46,445 shares of the company were exchanged, compared to its average volume of 96,724. The stock's 50 day simple moving average is $14.15 and its two-hundred day simple moving average is $15.24. The company has a market capitalization of $467.07 million, a P/E ratio of 75.85 and a beta of 1.21. 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 issued its quarterly earnings data on Thursday, April 24th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.14. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. The business had revenue of $44.82 million during the quarter, compared to analysts' expectations of $44.86 million. As a group, equities analysts forecast that Southern California Bancorp will post 1.81 earnings per share for the current year.

Southern California Bancorp declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase 1,600,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is 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.