FY2024 EPS Estimates for Southern California Bancorp Reduced by Analyst (NASDAQ:BCAL)

Southern California Bancorp (NASDAQ:BCAL) – Stock analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Southern California Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now forecasts that the company will earn $0.90 per share for the year, down from their previous forecast of $0.94. The consensus estimate for Southern California Bancorp’s current full-year earnings is $1.05 per share. DA Davidson also issued estimates for Southern California Bancorp’s FY2025 earnings at $1.86 EPS.

Southern California Bancorp (NASDAQ:BCAL) last released its quarterly earnings data on Monday, August 12th. The company reported $0.03 earnings per share for the quarter. Southern California Bancorp had a return on equity of 5.92% and a net margin of 12.34%. The firm had revenue of $22.18 million during the quarter.

Separately, Keefe, Bruyette & Woods cut their price target on shares of Southern California Bancorp from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Southern California Bancorp Stock Down 0.2 %

NASDAQ:BCAL opened at $14.12 on Friday. The company has a fifty day moving average of $14.66 and a 200 day moving average of $14.25. Southern California Bancorp has a 52 week low of $12.30 and a 52 week high of $18.00. The firm has a market capitalization of $261.78 million, a P/E ratio of 11.67 and a beta of 0.74.

Hedge Funds Weigh In On Southern California Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Southern California Bancorp in the third quarter worth about $123,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Southern California Bancorp in the 2nd quarter worth approximately $359,000. The Manufacturers Life Insurance Company lifted its stake in shares of Southern California Bancorp by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 267,898 shares of the company’s stock valued at $3,609,000 after purchasing an additional 6,266 shares during the period. Endeavour Capital Advisors Inc. boosted its position in shares of Southern California Bancorp by 0.8% during the second quarter. Endeavour Capital Advisors Inc. now owns 1,131,513 shares of the company’s stock valued at $15,241,000 after purchasing an additional 8,521 shares in the last quarter. Finally, ELCO Management Co. LLC boosted its position in shares of Southern California Bancorp by 25.2% during the second quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock valued at $360,000 after purchasing an additional 5,380 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lester Machado sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $14.37, for a total value of $143,700.00. Following the completion of the sale, the director now owns 15,437 shares of the company’s stock, valued at $221,829.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 19.64% 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.