MAI Capital Management Invests $801,000 in Southern California Bancorp (NASDAQ:BCAL)

MAI Capital Management purchased a new stake in Southern California Bancorp (NASDAQ:BCAL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 54,179 shares of the company’s stock, valued at approximately $801,000. MAI Capital Management owned approximately 0.29% of Southern California Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Southern California Bancorp during the 3rd quarter worth $123,000. Empowered Funds LLC acquired a new position in Southern California Bancorp in the third quarter valued at about $160,000. Rhumbline Advisers acquired a new position in shares of Southern California Bancorp in the 2nd quarter valued at approximately $166,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Southern California Bancorp during the second quarter worth $359,000. Finally, ELCO Management Co. LLC increased its holdings in Southern California Bancorp by 25.2% during the 2nd quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock worth $360,000 after purchasing an additional 5,380 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Southern California Bancorp Stock Performance

Southern California Bancorp stock opened at $17.61 on Friday. The stock has a 50-day simple moving average of $15.01 and a 200 day simple moving average of $14.45. The stock has a market capitalization of $326.67 million, a P/E ratio of -220.00 and a beta of 0.74. Southern California Bancorp has a 52 week low of $12.30 and a 52 week high of $18.00.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price objective on Southern California Bancorp from $23.00 to $19.00 and set an “outperform” rating for the company in a 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.