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

Southern California Bancorp (NASDAQ:BCAL) shares saw an uptick in trading volume on Tuesday . 367,713 shares traded hands 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.

Wall Street Analysts Forecast Growth

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

Southern California Bancorp Price Performance

The firm’s fifty day moving average price is $16.00 and its 200-day moving average price is $15.63. The company has a market cap of $516.01 million, a price-to-earnings ratio of 84.45 and a beta of 1.11.

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

Institutional Investors Weigh In On Southern California Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its position in Southern California Bancorp by 177.3% during the third quarter. Barclays PLC now owns 36,756 shares of the company’s stock valued at $544,000 after purchasing an additional 23,499 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $976,000 after acquiring an additional 32,848 shares in the last quarter. Petiole USA ltd lifted its holdings 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 last quarter. MAI Capital Management bought a new stake in Southern California Bancorp during the third quarter worth approximately $801,000. Finally, JPMorgan Chase & Co. grew its stake in Southern California Bancorp by 417.3% in the 3rd 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 and hedge funds own 55.40% of the company’s stock.

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.