Southern California Bancorp (NASDAQ:BCAL - Get Free Report) saw a large decrease in short interest during the month of 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. Based on an average trading volume of 71,200 shares, the days-to-cover ratio is currently 5.7 days. Currently, 1.8% of the shares of the stock are short sold.
In other news, Director Lester Machado sold 10,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $14.37, for a total transaction of $143,700.00. Following the completion of the sale, the director now owns 15,437 shares in the company, valued at approximately $221,829.69. This represents a 39.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.64% of the company's stock.
Several hedge funds have recently bought and sold shares of BCAL. Keystone Wealth Services LLC acquired a new stake in shares of Southern California Bancorp during the third quarter worth approximately $617,000. Baker Avenue Asset Management LP acquired a new stake in shares of Southern California Bancorp during the 3rd quarter valued at $1,052,000. Rhumbline Advisers purchased a new position in shares of Southern California Bancorp during the 2nd quarter valued at $166,000. Curi RMB Capital LLC grew its holdings in shares of 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, Bank of New York Mellon Corp acquired a new position in shares of Southern California Bancorp in the second quarter worth $461,000. 55.40% of the stock is owned by hedge funds and other institutional investors.
Separately, Keefe, Bruyette & Woods dropped their price target on Southern California Bancorp from $23.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd.
Read Our Latest Analysis on Southern California Bancorp
Shares of NASDAQ:BCAL opened at $17.26 on Monday. The company has a market cap of $320.17 million, a P/E ratio of -215.75 and a beta of 0.74. The company's fifty day moving average is $14.84 and its two-hundred day moving average is $14.38. Southern California Bancorp has a 12-month low of $12.30 and a 12-month high of $18.00.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Southern California Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern California Bancorp wasn't on the list.
While Southern California Bancorp currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.