Southern California Bancorp (NASDAQ:BCAL) Price Target Lowered to $20.00 at DA Davidson

Southern California Bancorp (NASDAQ:BCAL) had its price target dropped by research analysts at DA Davidson from $22.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective suggests a potential upside of 17.82% from the stock’s current price.

Southern California Bancorp Price Performance

Shares of Southern California Bancorp stock traded up $0.71 during trading on Thursday, hitting $16.98. 36,709 shares of the company’s stock traded hands, compared to its average volume of 60,765. The business has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $15.47. The stock has a market capitalization of $546.09 million, a P/E ratio of -212.23 and a beta of 1.12. Southern California Bancorp has a 1 year low of $12.30 and a 1 year high of $18.49.

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, topping the consensus estimate of $0.45 by $0.08. Southern California Bancorp had a negative net margin of 4.51% and a positive return on equity of 5.71%. On average, equities analysts predict that Southern California Bancorp will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Southern California Bancorp

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Southern California Bancorp in the third quarter valued at $123,000. Empowered Funds LLC bought a new position in Southern California Bancorp in the 3rd quarter worth about $160,000. Creekside Partners purchased a new stake in shares of Southern California Bancorp during the third quarter valued at about $190,000. Jane Street Group LLC purchased a new position in shares of Southern California Bancorp in the 3rd quarter valued at approximately $202,000. Finally, MetLife Investment Management LLC raised its stake 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 worth $218,000 after purchasing an additional 11,439 shares during the last quarter. Institutional investors 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.