Southern California Bancorp (NASDAQ:BCAL) Sees Strong Trading Volume – Here’s What Happened

Southern California Bancorp (NASDAQ:BCAL) saw an uptick in trading volume on Tuesday . 367,713 shares were traded during mid-day trading, an increase of 412% from the previous session’s volume of 71,782 shares.The stock last traded at $16.04 and had previously closed at $15.84.

Analyst Ratings Changes

Separately, DA Davidson lowered their target price on Southern California Bancorp from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th.

Southern California Bancorp Trading Up 1.3 %

The stock’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $15.63. The firm has a market capitalization of $516.01 million, a price-to-earnings ratio of 84.45 and a beta of 1.11.

Southern California Bancorp (NASDAQ:BCAL) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.08. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. On average, sell-side analysts forecast that Southern California Bancorp will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Southern California Bancorp

Several large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in shares of Southern California Bancorp by 265.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,848 shares of the company’s stock worth $47,000 after acquiring an additional 2,068 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Southern California Bancorp in the fourth quarter worth about $102,000. Empowered Funds LLC purchased a new position in Southern California Bancorp in the third quarter valued at about $160,000. SG Americas Securities LLC grew its stake 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 purchasing an additional 1,833 shares in the last quarter. Finally, Davidson Kahn Capital Management LLC purchased a new stake in Southern California Bancorp during the 4th quarter worth approximately $172,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.