Baker Avenue Asset Management LP Makes New Investment in Southern California Bancorp (NASDAQ:BCAL)

Baker Avenue Asset Management LP purchased a new stake in Southern California Bancorp (NASDAQ:BCAL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 71,152 shares of the company's stock, valued at approximately $1,052,000. Baker Avenue Asset Management LP owned approximately 0.38% of Southern California Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Wealth Services LLC bought a new position in Southern California Bancorp in the 3rd quarter valued at $617,000. Bank of New York Mellon Corp bought a new position in shares of Southern California Bancorp in the second quarter worth approximately $461,000. Pacific Ridge Capital Partners LLC purchased a new stake in Southern California Bancorp in the second quarter valued at approximately $359,000. Rhumbline Advisers bought a new stake in Southern California Bancorp during the second quarter valued at approximately $166,000. Finally, Hennessy Advisors Inc. grew its stake in Southern California Bancorp by 8.8% in the 2nd quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company's stock worth $1,670,000 after buying an additional 10,000 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Southern California Bancorp

In other Southern California Bancorp news, Director Lester Machado sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 20th. The shares were 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 directly owns 15,437 shares in the company, valued at $221,829.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 19.64% of the stock is owned by insiders.

Southern California Bancorp Price Performance

Shares of Southern California Bancorp stock traded up $0.53 during trading on Monday, hitting $17.31. 97,969 shares of the stock traded hands, compared to its average volume of 63,825. The firm's fifty day moving average is $14.59 and its 200-day moving average is $14.27. Southern California Bancorp has a 52 week low of $12.30 and a 52 week high of $18.00.

Southern California Bancorp (NASDAQ:BCAL - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.03 EPS for the quarter. Southern California Bancorp had a negative net margin of 4.51% and a positive return on equity of 6.72%. The firm had revenue of $22.18 million for the quarter. Sell-side analysts forecast that Southern California Bancorp will post 0.87 EPS for the current fiscal year.

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.