Wells Fargo & Company MN Has $236,000 Holdings in Southern California Bancorp (NASDAQ:BCAL)

Wells Fargo & Company MN reduced its position in Southern California Bancorp (NASDAQ:BCAL - Free Report) by 75.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,278 shares of the company's stock after selling 43,079 shares during the period. Wells Fargo & Company MN's holdings in Southern California Bancorp were worth $236,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its position 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 valued at $168,000 after acquiring an additional 1,833 shares during the period. Intech Investment Management LLC acquired a new position in shares of Southern California Bancorp in the 4th quarter worth approximately $176,000. Jane Street Group LLC bought a new position in shares of Southern California Bancorp during the 3rd quarter worth approximately $202,000. Aspiriant LLC acquired a new stake in Southern California Bancorp in the 4th quarter valued at $230,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Southern California Bancorp during the fourth quarter worth $264,000. Institutional investors own 55.40% of the company's stock.

Southern California Bancorp Stock Up 0.8%

Southern California Bancorp stock traded up $0.12 during midday trading on Tuesday, hitting $15.46. 6,159 shares of the stock were exchanged, compared to its average volume of 86,070. The company has a fifty day simple moving average of $13.95 and a two-hundred day simple moving average of $15.51. The stock has a market capitalization of $500.93 million, a PE ratio of 81.37 and a beta of 1.20. 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 for the quarter, topping the consensus estimate 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 firm had revenue of $44.82 million for the quarter, compared to analyst estimates of $44.86 million. As a group, equities research analysts anticipate that Southern California Bancorp will post 1.81 EPS for the current fiscal year.

Southern California Bancorp declared that its board has authorized a stock repurchase program on Thursday, May 1st that permits the company to buyback 1,600,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, DA Davidson cut their price objective on Southern California Bancorp from $22.00 to $20.00 and set a "buy" rating for the company in a research report 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.