Southern California Bancorp (NASDAQ:BCAL) Short Interest Update

Southern California Bancorp (NASDAQ:BCAL) saw a large decline in short interest in August. As of August 15th, there was short interest totalling 434,600 shares, a decline of 31.0% from the July 31st total of 630,300 shares. Based on an average daily trading volume, of 101,200 shares, the short-interest ratio is presently 4.3 days. Approximately 2.6% of the shares of the stock are sold short.

Southern California Bancorp Stock Performance

BCAL traded up $0.08 during trading on Thursday, reaching $14.93. The company had a trading volume of 36,682 shares, compared to its average volume of 61,224. The firm’s 50-day simple moving average is $14.30 and its 200 day simple moving average is $14.36. The company has a market cap of $276.80 million, a price-to-earnings ratio of 12.34 and a beta of 0.75. Southern California Bancorp has a 12-month low of $12.30 and a 12-month high of $18.00.

Southern California Bancorp (NASDAQ:BCAL) last released its earnings results on Monday, August 12th. The company reported $0.03 earnings per share for the quarter. Southern California Bancorp had a net margin of 17.56% and a return on equity of 8.18%. The business had revenue of $22.18 million for the quarter. On average, sell-side analysts expect that Southern California Bancorp will post 1.13 EPS for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Southern California Bancorp from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.

Insider Transactions at Southern California Bancorp

In related news, Director Lester Machado sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.37, for a total transaction of $143,700.00. Following the completion of the transaction, the director now owns 15,437 shares of the company’s stock, valued at $221,829.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.64% of the company’s stock.

Hedge Funds Weigh In On Southern California Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in shares of Southern California Bancorp in the first quarter valued at $1,700,000. Mesirow Financial Investment Management Inc. acquired a new position in Southern California Bancorp during the first quarter valued at $159,000. Bank of New York Mellon Corp acquired a new position in Southern California Bancorp during the second quarter valued at $461,000. Rhumbline Advisers purchased a new stake in Southern California Bancorp in the 2nd quarter worth about $166,000. Finally, ELCO Management Co. LLC boosted its position in Southern California Bancorp by 25.2% during the 2nd quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock worth $360,000 after acquiring an additional 5,380 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.