Southern California Bancorp (NASDAQ:BCAL) Sees Significant Decline in Short Interest

Southern California Bancorp (NASDAQ:BCAL) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 407,700 shares, a decrease of 7.3% from the October 15th total of 439,600 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average trading volume of 71,200 shares, the short-interest ratio is presently 5.7 days.

Institutional Trading of Southern California Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Banc Funds Co. LLC raised its holdings in shares of Southern California Bancorp by 288.1% in the 3rd quarter. Banc Funds Co. LLC now owns 1,412,186 shares of the company’s stock valued at $20,886,000 after purchasing an additional 1,048,281 shares in the last quarter. Fourthstone LLC raised its stake in Southern California Bancorp by 52.3% in the third quarter. Fourthstone LLC now owns 2,696,523 shares of the company’s stock worth $39,882,000 after buying an additional 925,904 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Southern California Bancorp by 193.1% during the third quarter. The Manufacturers Life Insurance Company now owns 785,115 shares of the company’s stock worth $11,612,000 after buying an additional 517,217 shares during the period. Curi RMB Capital LLC boosted its position in Southern California Bancorp by 500.9% during the 3rd quarter. Curi RMB Capital LLC now owns 393,456 shares of the company’s stock valued at $5,819,000 after acquiring an additional 327,981 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Southern California Bancorp by 105.9% in the 3rd quarter. Geode Capital Management LLC now owns 542,147 shares of the company’s stock valued at $8,020,000 after acquiring an additional 278,874 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Southern California Bancorp Trading Down 0.1 %

BCAL opened at $17.20 on Wednesday. The company has a market capitalization of $319.06 million, a price-to-earnings ratio of -215.13 and a beta of 0.74. Southern California Bancorp has a 12-month low of $12.30 and a 12-month high of $18.00. The business’s fifty day simple moving average is $14.89 and its 200-day simple moving average is $14.40.

Wall Street Analyst Weigh In

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

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.