Southern California Bancorp (NASDAQ:BCAL) Reaches New 12-Month High – Time to Buy?

Southern California Bancorp (NASDAQ:BCAL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $18.10 and last traded at $18.07, with a volume of 13080 shares. The stock had previously closed at $17.76.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their target price on Southern California Bancorp from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Southern California Bancorp Stock Performance

The company has a market cap of $573.59 million, a PE ratio of -222.88 and a beta of 0.74. The stock’s 50-day simple moving average is $15.27 and its 200 day simple moving average is $14.56.

Institutional Investors Weigh In On Southern California Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. lifted its holdings in shares of Southern California Bancorp by 8.8% in the 2nd quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company’s stock valued at $1,670,000 after buying an additional 10,000 shares during the period. Bank of New York Mellon Corp acquired a new stake in Southern California Bancorp in the second quarter valued at $461,000. Rhumbline Advisers purchased a new stake in shares of Southern California Bancorp during the 2nd quarter worth $166,000. ELCO Management Co. LLC grew its stake in shares of 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 purchasing an additional 5,380 shares during the period. Finally, Endeavour Capital Advisors Inc. increased its holdings in shares of Southern California Bancorp by 0.8% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 1,131,513 shares of the company’s stock valued at $15,241,000 after purchasing an additional 8,521 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.