Southern California Bancorp (NASDAQ:BCAL) Stock Price Up 6.5% After Better-Than-Expected Earnings

Southern California Bancorp (NASDAQ:BCAL) was up 6.5% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $16.23 and last traded at $16.43. Approximately 52,708 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 55,690 shares. The stock had previously closed at $15.43.

The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.08. Southern California Bancorp had a negative net margin of 4.51% and a positive return on equity of 5.71%.

Institutional Investors Weigh In On Southern California Bancorp

Several hedge funds have recently made changes to their positions in BCAL. SG Americas Securities LLC boosted its holdings in shares of Southern California Bancorp by 22.0% during the 4th quarter. SG Americas Securities LLC now owns 10,163 shares of the company’s stock valued at $168,000 after buying an additional 1,833 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position 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 valued at $3,609,000 after acquiring an additional 6,266 shares during the period. Empowered Funds LLC bought a new stake in Southern California Bancorp during the third quarter worth about $160,000. MetLife Investment Management LLC grew its holdings in Southern California Bancorp by 348.8% in the third quarter. MetLife Investment Management LLC now owns 14,719 shares of the company’s stock worth $218,000 after purchasing an additional 11,439 shares during the period. Finally, Creekside Partners purchased a new stake in Southern California Bancorp in the third quarter worth about $190,000. 55.40% of the stock is currently owned by institutional investors.

Southern California Bancorp Price Performance

The stock’s 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $15.46. The firm has a market cap of $529.78 million, a P/E ratio of -205.13 and a beta of 1.12.

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.