Southern California Bancorp (NASDAQ:BCAL) Stake Reduced by Vance Wealth LLC

Vance Wealth LLC reduced its stake in shares of Southern California Bancorp (NASDAQ:BCAL) by 8.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 37,633 shares of the company’s stock after selling 3,349 shares during the period. Vance Wealth LLC’s holdings in Southern California Bancorp were worth $622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in Southern California Bancorp by 417.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,508 shares of the company’s stock worth $392,000 after purchasing an additional 21,384 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Southern California Bancorp in the fourth quarter worth $264,000. Raymond James Financial Inc. bought a new position in shares of Southern California Bancorp in the fourth quarter worth $641,000. Cerity Partners LLC grew its stake in shares of Southern California Bancorp by 131.1% in the fourth quarter. Cerity Partners LLC now owns 85,377 shares of the company’s stock worth $1,412,000 after purchasing an additional 48,427 shares in the last quarter. Finally, Mendon Capital Advisors Corp boosted its holdings in shares of Southern California Bancorp by 6.9% in the fourth quarter. Mendon Capital Advisors Corp now owns 443,695 shares of the company’s stock valued at $7,339,000 after acquiring an additional 28,458 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson decreased their price target on Southern California Bancorp from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, January 30th.

Southern California Bancorp Stock Performance

Shares of NASDAQ:BCAL opened at $15.26 on Tuesday. The stock has a market capitalization of $494.62 million, a price-to-earnings ratio of 80.32 and a beta of 1.20. Southern California Bancorp has a 1-year low of $11.87 and a 1-year high of $18.49. The company has a 50 day moving average price of $13.94 and a 200 day moving average price of $15.54.

Southern California Bancorp (NASDAQ:BCAL) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.14. The business had revenue of $44.82 million during the quarter, compared to analyst estimates of $44.86 million. Southern California Bancorp had a return on equity of 8.97% and a net margin of 2.94%. On average, sell-side analysts expect that Southern California Bancorp will post 1.81 EPS for the current fiscal year.

Southern California Bancorp declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase 1,600,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.