Southern California Bancorp (NASDAQ:BCAL) Shares Gap Up – What’s Next?

Southern California Bancorp (NASDAQ:BCAL) gapped up before the market opened on Monday . The stock had previously closed at $16.08, but opened at $16.80. Southern California Bancorp shares last traded at $16.18, with a volume of 3,548 shares changing hands.

Wall Street Analysts Forecast Growth

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

Southern California Bancorp Stock Up 2.0 %

The business’s 50-day moving average price is $16.31 and its 200 day moving average price is $15.56. The company has a market capitalization of $524.37 million, a P/E ratio of 85.79 and a beta of 1.11.

Southern California Bancorp (NASDAQ:BCAL) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.08. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. Analysts anticipate that Southern California Bancorp will post 1.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Southern California Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in Southern California Bancorp by 177.3% in the third quarter. Barclays PLC now owns 36,756 shares of the company’s stock valued at $544,000 after acquiring an additional 23,499 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Southern California Bancorp by 99.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,012 shares of the company’s stock worth $976,000 after buying an additional 32,848 shares during the last quarter. Petiole USA ltd raised its position in Southern California Bancorp by 130.1% in the 3rd quarter. Petiole USA ltd now owns 195,604 shares of the company’s stock worth $2,893,000 after purchasing an additional 110,604 shares during the period. MAI Capital Management purchased a new stake in Southern California Bancorp during the third quarter valued at about $801,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Southern California Bancorp by 417.3% during the third quarter. JPMorgan Chase & Co. now owns 26,508 shares of the company’s stock valued at $392,000 after buying an additional 21,384 shares during the last quarter. Institutional investors 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.