MAI Capital Management Buys Shares of 54,179 Southern California Bancorp (NASDAQ:BCAL)

MAI Capital Management purchased a new stake in shares of Southern California Bancorp (NASDAQ:BCAL - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,179 shares of the company's stock, valued at approximately $801,000. MAI Capital Management owned approximately 0.29% of Southern California Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BCAL. Curi RMB Capital LLC increased 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 worth $5,819,000 after purchasing an additional 327,981 shares during the period. Baker Avenue Asset Management LP bought a new position in shares of Southern California Bancorp during the 3rd quarter worth about $1,052,000. Keystone Wealth Services LLC bought a new position in shares of Southern California Bancorp during the 3rd quarter worth about $617,000. Bank of New York Mellon Corp bought a new position in shares of Southern California Bancorp during the 2nd quarter worth about $461,000. Finally, Pacific Ridge Capital Partners LLC bought a new position in shares of Southern California Bancorp during the 2nd quarter worth about $359,000. Institutional investors own 55.40% of the company's stock.

Southern California Bancorp Price Performance

Shares of Southern California Bancorp stock traded up $0.16 during trading on Friday, hitting $17.76. 68,921 shares of the company's stock traded hands, compared to its average volume of 63,585. The firm's fifty day moving average price is $15.07 and its 200 day moving average price is $14.47. Southern California Bancorp has a twelve month low of $12.30 and a twelve month high of $18.00. The company has a market cap of $329.45 million, a PE ratio of -220.13 and a beta of 0.74.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped 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 report on Friday, August 2nd.

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.