Destination Wealth Management Reduces Stake in Southern California Bancorp (NASDAQ:BCAL)

Destination Wealth Management lowered its holdings in Southern California Bancorp (NASDAQ:BCAL) by 58.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,290 shares of the company’s stock after selling 21,276 shares during the quarter. Destination Wealth Management’s holdings in Southern California Bancorp were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BCAL. Baker Avenue Asset Management LP purchased a new position in shares of Southern California Bancorp in the 3rd quarter valued at approximately $1,052,000. Curi RMB Capital LLC lifted its stake in shares of Southern California Bancorp by 500.9% in the 3rd quarter. Curi RMB Capital LLC now owns 393,456 shares of the company’s stock valued at $5,819,000 after purchasing an additional 327,981 shares during the period. Empowered Funds LLC purchased a new position in shares of Southern California Bancorp in the 3rd quarter valued at approximately $160,000. MAI Capital Management purchased a new position in shares of Southern California Bancorp in the 3rd quarter valued at approximately $801,000. Finally, Creekside Partners purchased a new position in shares of Southern California Bancorp in the 3rd quarter valued at approximately $190,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Southern California Bancorp Stock Up 0.1 %

BCAL stock opened at $15.60 on Friday. Southern California Bancorp has a twelve month low of $12.30 and a twelve month high of $18.49. The firm has a market cap of $501.77 million, a PE ratio of 82.11 and a beta of 1.13. The business has a 50 day moving average of $15.81 and a 200 day moving average of $15.71.

Southern California Bancorp (NASDAQ:BCAL) last posted its quarterly earnings data 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 return on equity of 8.97% and a net margin of 2.94%. On average, research analysts expect that Southern California Bancorp will post 1.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their target price on Southern California Bancorp from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, January 30th.

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.