The Manufacturers Life Insurance Company Raises Stock Holdings in Southern California Bancorp (NASDAQ:BCAL)

The Manufacturers Life Insurance Company raised its stake in shares of Southern California Bancorp (NASDAQ:BCAL) by 193.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 785,115 shares of the company’s stock after acquiring an additional 517,217 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 4.23% of Southern California Bancorp worth $11,612,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bedell Frazier Investment Counselling LLC bought a new position in Southern California Bancorp during the 3rd quarter worth $1,381,000. Concentric Wealth Management LLC bought a new stake in shares of Southern California Bancorp in the 3rd quarter worth approximately $362,000. Cerity Partners LLC acquired a new stake in Southern California Bancorp during the 3rd quarter worth about $546,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Southern California Bancorp by 99.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 66,012 shares of the company’s stock worth $976,000 after purchasing an additional 32,848 shares during the period. Finally, Creekside Partners purchased a new position in shares of Southern California Bancorp during the 3rd quarter valued at $190,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Southern California Bancorp Price Performance

Shares of Southern California Bancorp stock opened at $17.89 on Tuesday. The stock has a 50-day simple moving average of $15.52 and a 200-day simple moving average of $14.67. Southern California Bancorp has a 52-week low of $12.30 and a 52-week high of $18.49. The firm has a market cap of $575.43 million, a price-to-earnings ratio of -223.63 and a beta of 0.74.

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.