DA Davidson Has Bearish Forecast for BCAL FY2024 Earnings

Southern California Bancorp (NASDAQ:BCAL - Free Report) - Analysts at DA Davidson lowered their FY2024 earnings estimates for Southern California Bancorp in a report released on Wednesday, October 30th. DA Davidson analyst G. Tenner now expects that the company will earn $0.60 per share for the year, down from their prior forecast of $0.90. The consensus estimate for Southern California Bancorp's current full-year earnings is $1.03 per share.

Southern California Bancorp (NASDAQ:BCAL - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.03 earnings per share 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.

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

Southern California Bancorp Stock Up 0.3 %

Shares of NASDAQ:BCAL traded up $0.04 during trading on Friday, reaching $14.62. The stock had a trading volume of 150,002 shares, compared to its average volume of 62,147. 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 $271.20 million, a price-to-earnings ratio of -182.25 and a beta of 0.74. The stock has a fifty day simple moving average of $14.49 and a two-hundred day simple moving average of $14.20.

Insider Transactions at Southern California Bancorp

In other news, Director Lester Machado sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $14.37, for a total value of $143,700.00. Following the sale, the director now owns 15,437 shares in the company, valued at approximately $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 accessible through this hyperlink. 19.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Southern California Bancorp

A number of institutional investors have recently bought and sold shares of the business. Endeavour Capital Advisors Inc. raised its holdings in shares of Southern California Bancorp by 0.8% in the second quarter. Endeavour Capital Advisors Inc. now owns 1,131,513 shares of the company's stock valued at $15,241,000 after buying an additional 8,521 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Southern California Bancorp by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 267,898 shares of the company's stock worth $3,609,000 after purchasing an additional 6,266 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Southern California Bancorp by 8.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company's stock worth $1,670,000 after purchasing an additional 10,000 shares during the last quarter. Keystone Wealth Services LLC bought a new stake in Southern California Bancorp during the 3rd quarter worth about $617,000. Finally, Bank of New York Mellon Corp bought a new stake in Southern California Bancorp during the 2nd quarter worth about $461,000. Institutional investors and hedge funds own 55.40% of the company's stock.

Southern California Bancorp Company Profile

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.