Southern California Bancorp (NASDAQ:BCAL) Sees Large Volume Increase – Still a Buy?

Southern California Bancorp (NASDAQ:BCAL) shares saw unusually-high trading volume on Friday . Approximately 222,216 shares traded hands during mid-day trading, an increase of 240% from the previous session’s volume of 65,343 shares.The stock last traded at $16.18 and had previously closed at $16.10.

Analyst Upgrades and Downgrades

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 note on Thursday, January 30th.

Southern California Bancorp Price Performance

The company’s 50-day simple moving average is $16.38 and its 200-day simple moving average is $15.53. The stock has a market capitalization of $517.29 million, a price-to-earnings ratio of 84.64 and a beta of 1.11.

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

Institutional Investors Weigh In On Southern California Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of Southern California Bancorp by 22.0% in the fourth quarter. SG Americas Securities LLC now owns 10,163 shares of the company’s stock valued at $168,000 after buying an additional 1,833 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Southern California Bancorp by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 68,261 shares of the company’s stock valued at $1,129,000 after buying an additional 2,249 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Southern California Bancorp in the third quarter valued at approximately $160,000. MetLife Investment Management LLC raised its position in shares of Southern California Bancorp by 348.8% in the third quarter. MetLife Investment Management LLC now owns 14,719 shares of the company’s stock valued at $218,000 after buying an additional 11,439 shares in the last quarter. Finally, Creekside Partners acquired a new stake in shares of Southern California Bancorp in the third quarter valued at approximately $190,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.