Southern California Bancorp (NASDAQ:BCAL) Given New $20.00 Price Target at DA Davidson

Southern California Bancorp (NASDAQ:BCAL) had its target price lowered by 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 target points to a potential upside of 17.82% from the stock’s previous close.

Southern California Bancorp Stock Performance

NASDAQ:BCAL traded up $0.71 during mid-day trading on Thursday, reaching $16.98. 36,709 shares of the company’s stock were exchanged, compared to its average volume of 60,765. Southern California Bancorp has a one year low of $12.30 and a one year high of $18.49. The business’s fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $15.47. The firm has a market capitalization of $546.09 million, a PE ratio of -212.23 and a beta of 1.12.

Southern California Bancorp (NASDAQ:BCAL) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Southern California Bancorp will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Southern California Bancorp

Several large investors have recently modified their holdings of BCAL. Banc Funds Co. LLC lifted its position in shares of Southern California Bancorp by 288.1% during the third quarter. Banc Funds Co. LLC now owns 1,412,186 shares of the company’s stock worth $20,886,000 after acquiring an additional 1,048,281 shares in the last quarter. Fourthstone LLC raised its position in Southern California Bancorp by 52.3% during the 3rd quarter. Fourthstone LLC now owns 2,696,523 shares of the company’s stock valued at $39,882,000 after purchasing an additional 925,904 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Southern California Bancorp by 193.1% in 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 in the last quarter. Curi RMB Capital LLC boosted its stake in Southern California Bancorp by 500.9% during the third quarter. Curi RMB Capital LLC now owns 393,456 shares of the company’s stock worth $5,819,000 after acquiring an additional 327,981 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Southern California Bancorp by 105.9% during the third quarter. Geode Capital Management LLC now owns 542,147 shares of the company’s stock valued at $8,020,000 after purchasing an additional 278,874 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.