Wells Fargo & Company MN Sells 43,079 Shares of Southern California Bancorp (NASDAQ:BCAL)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCAL. SG Americas Securities LLC increased 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 worth $168,000 after purchasing an additional 1,833 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 2,249 shares during the period. Vanguard Group Inc. boosted its stake in shares of Southern California Bancorp by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,288,260 shares of the company's stock valued at $21,308,000 after buying an additional 3,897 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake 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 worth $773,000 after purchasing an additional 8,047 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Southern California Bancorp in the fourth quarter valued at about $176,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Southern California Bancorp Stock Down 1.1 %

Shares of BCAL stock traded down $0.16 during trading hours on Friday, hitting $14.57. 42,462 shares of the company were exchanged, compared to its average volume of 86,400. Southern California Bancorp has a 1 year low of $11.87 and a 1 year high of $18.49. The firm has a fifty day moving average of $13.95 and a 200 day moving average of $15.50. The firm has a market cap of $472.10 million, a PE ratio of 76.69 and a beta of 1.20.

Southern California Bancorp (NASDAQ:BCAL - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.14. The company had revenue of $44.82 million during the quarter, compared to the consensus estimate of $44.86 million. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. Analysts expect that Southern California Bancorp will post 1.81 earnings per share for the current year.

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

Analyst Ratings Changes

Separately, DA Davidson cut their target price on shares of 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.

Southern California Bancorp Company Profile

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.