Short Interest in Southern California Bancorp (NASDAQ:BCAL) Increases By 6.5%

In January, Southern California Bancorp (NASDAQ:BCAL) experienced a notable rise in short interest. As of January 15th, the total short interest reached 362,300 shares, reflecting a 6.5% increase compared to the 340,300 shares reported on December 31st. Currently, short sales account for 1.6% of the company's total stock. Given an average daily trading volume of 69,500 shares, the short-interest ratio indicates it would take approximately 5.2 days to cover these short positions.

Analyst Ratings

In other news, financial services firm DA Davidson revised its price target for Southern California Bancorp, lowering it from $22.00 to $20.00, while maintaining a "buy" rating on the stock.

Institutional Investor Activity

Several institutional investors have been active in buying and selling shares of Southern California Bancorp. In the third quarter, SG Americas Securities LLC acquired a new investment valued at around $123,000. Empowered Funds LLC also purchased shares valued at approximately $160,000 in the same quarter. Furthermore, Creekside Partners invested about $190,000 and Jane Street Group LLC spent around $202,000 on new shares. Aspiriant LLC made a new stake worth $230,000 in the fourth quarter. Currently, hedge funds and other institutional investors own about 55.40% of the company's stock.

Stock Performance

Southern California Bancorp's shares fell by 2.9% on Monday, trading down $0.48 to $16.12. The trading volume for the day was 26,585 shares, lower than the average of 67,409 shares. The company's 50-day moving average price is $16.53, and its 200-day average is $15.50. Over the last year, the stock has seen a low of $12.30 and a high of $18.49. The market capitalization stands at $518.48 million, with a price-to-earnings (P/E) ratio of 84.74 and a beta of 1.11.

In its most recent quarterly earnings report, posted on January 29th, Southern California Bancorp disclosed earnings of $0.53 per share, surpassing analysts' predictions of $0.45 by $0.08. The company also reported a return on equity of 8.97% and a net margin of 2.94%. Analysts project that Southern California Bancorp will achieve earnings of 1.81 per share for the current year.

Company Overview

Southern California Bancorp operates as the parent company of the Bank of Southern California, N.A. It offers a range of financial products to individuals, professionals, and small to medium-sized businesses, including checking accounts, personal and business savings accounts, money market accounts, and certificates of deposit.

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