MAI Capital Management Makes New $801,000 Investment in Southern California Bancorp (NASDAQ:BCAL)

MAI Capital Management purchased a new stake in Southern California Bancorp (NASDAQ:BCAL) during the third quarter, according to 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Southern California Bancorp in the third quarter valued at about $123,000. Empowered Funds LLC bought a new position in Southern California Bancorp in the 3rd quarter valued at approximately $160,000. Rhumbline Advisers acquired a new stake in Southern California Bancorp during the 2nd quarter worth approximately $166,000. Pacific Ridge Capital Partners LLC bought a new stake in Southern California Bancorp during the 2nd quarter worth approximately $359,000. Finally, ELCO Management Co. LLC increased its position in Southern California Bancorp by 25.2% in the 2nd quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock valued at $360,000 after acquiring an additional 5,380 shares during the period. 55.40% of the stock is owned by institutional investors.

Southern California Bancorp Stock Up 2.1 %

Shares of BCAL stock opened at $17.61 on Friday. The firm has a 50 day moving average of $15.01 and a 200-day moving average of $14.45. The company has a market cap of $326.67 million, a price-to-earnings ratio of -220.00 and a beta of 0.74. Southern California Bancorp has a 52 week low of $12.30 and a 52 week high of $18.00.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price target on 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 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.