Petiole USA ltd Purchases 110,604 Shares of Southern California Bancorp (NASDAQ:BCAL)

Petiole USA ltd raised its position in Southern California Bancorp (NASDAQ:BCAL) by 130.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,604 shares of the company’s stock after buying an additional 110,604 shares during the quarter. Southern California Bancorp comprises about 1.9% of Petiole USA ltd’s portfolio, making the stock its 25th largest position. Petiole USA ltd owned about 1.05% of Southern California Bancorp worth $2,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Southern California Bancorp by 193.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 785,115 shares of the company’s stock worth $11,612,000 after buying an additional 517,217 shares in the last quarter. Curi RMB Capital LLC grew its position in Southern California Bancorp by 500.9% in the third quarter. Curi RMB Capital LLC now owns 393,456 shares of the company’s stock valued at $5,819,000 after acquiring an additional 327,981 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new position in Southern California Bancorp during the third quarter worth about $1,381,000. Baker Avenue Asset Management LP bought a new position in shares of Southern California Bancorp in the third quarter worth about $1,052,000. Finally, MAI Capital Management acquired a new stake in shares of Southern California Bancorp in the 3rd quarter valued at approximately $801,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Southern California Bancorp Stock Up 1.1 %

Shares of BCAL stock opened at $17.95 on Tuesday. The firm has a market capitalization of $577.45 million, a P/E ratio of -224.38 and a beta of 0.74. Southern California Bancorp has a twelve month low of $12.30 and a twelve month high of $18.49. The stock’s fifty day simple moving average is $15.21 and its 200 day simple moving average is $14.53.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their target price 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.

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.