Southern California Bancorp (NASDAQ:BCAL) Sees Large Decrease in Short Interest

Southern California Bancorp (NASDAQ:BCAL) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 407,700 shares, a drop of 7.3% from the October 15th total of 439,600 shares. Based on an average daily volume of 71,200 shares, the days-to-cover ratio is currently 5.7 days. Currently, 1.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Southern California Bancorp Stock Performance

NASDAQ BCAL opened at $17.21 on Tuesday. The stock’s 50 day simple moving average is $14.84 and its 200 day simple moving average is $14.38. Southern California Bancorp has a one year low of $12.30 and a one year high of $18.00.

Institutional Trading of Southern California Bancorp

Several large investors have recently made changes to their positions in BCAL. Hennessy Advisors Inc. lifted its position in Southern California Bancorp by 8.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company’s stock worth $1,670,000 after buying an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Southern California Bancorp in the second quarter valued at about $461,000. Rhumbline Advisers acquired a new stake in shares of Southern California Bancorp in the 2nd quarter valued at approximately $166,000. ELCO Management Co. LLC raised its holdings in Southern California Bancorp by 25.2% in the second quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock worth $360,000 after purchasing an additional 5,380 shares during the period. Finally, Endeavour Capital Advisors Inc. lifted its holdings in Southern California Bancorp by 0.8% during the second quarter. Endeavour Capital Advisors Inc. now owns 1,131,513 shares of the company’s stock worth $15,241,000 after acquiring an additional 8,521 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

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.