Southern California Bancorp (NASDAQ:BCAL) Sees Large Volume Increase – Still a Buy?

Shares of Southern California Bancorp (NASDAQ:BCAL) saw an uptick in trading volume on Friday . 222,216 shares traded hands during mid-day trading, an increase of 240% from the previous session’s volume of 65,343 shares.The stock last traded at $16.18 and had previously closed at $16.10.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price objective on shares of Southern California Bancorp from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th.

Southern California Bancorp Stock Down 0.1 %

The firm’s 50-day moving average price is $16.38 and its 200 day moving average price is $15.53. The company has a market capitalization of $517.29 million, a P/E ratio of 84.64 and a beta of 1.11.

Southern California Bancorp (NASDAQ:BCAL) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.08. Southern California Bancorp had a net margin of 2.94% and a return on equity of 8.97%. As a group, equities research analysts expect that Southern California Bancorp will post 1.81 EPS for the current year.

Institutional Trading of Southern California Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Southern California Bancorp in the 3rd quarter worth approximately $123,000. Empowered Funds LLC purchased a new stake in shares of Southern California Bancorp during the 3rd quarter valued at $160,000. Creekside Partners purchased a new stake in shares of Southern California Bancorp during the 3rd quarter valued at $190,000. Jane Street Group LLC purchased a new stake in shares of Southern California Bancorp during the 3rd quarter valued at $202,000. Finally, Aspiriant LLC purchased a new stake in shares of Southern California Bancorp during the 4th quarter valued at $230,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.