Curi RMB Capital LLC Acquires 327,981 Shares of Southern California Bancorp (NASDAQ:BCAL)

Curi RMB Capital LLC raised its stake in Southern California Bancorp (NASDAQ:BCAL) by 500.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,456 shares of the company’s stock after acquiring an additional 327,981 shares during the quarter. Curi RMB Capital LLC owned approximately 2.12% of Southern California Bancorp worth $5,819,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Wealth Services LLC bought a new position in shares of Southern California Bancorp during the third quarter worth about $617,000. Baker Avenue Asset Management LP purchased a new position in shares of Southern California Bancorp during the third quarter valued at approximately $1,052,000. Rhumbline Advisers bought a new position in shares of Southern California Bancorp during the second quarter valued at about $166,000. Bank of New York Mellon Corp purchased a new position in shares of Southern California Bancorp in the 2nd quarter worth approximately $461,000. Finally, Hennessy Advisors Inc. grew its stake in Southern California Bancorp by 8.8% in the 2nd quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company’s stock valued at $1,670,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analysts Set New Price Targets

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 for the company in a research report on Friday, August 2nd.

Insiders Place Their Bets

In related news, Director Lester Machado sold 10,000 shares of Southern California Bancorp stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.37, for a total value of $143,700.00. Following the completion of the sale, the director now directly owns 15,437 shares in the company, valued at approximately $221,829.69. This trade represents a 39.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.64% of the stock is owned by corporate insiders.

Southern California Bancorp Stock Up 0.2 %

BCAL opened at $17.32 on Friday. The stock has a market cap of $321.29 million, a PE ratio of -216.00 and a beta of 0.74. The business’s fifty day simple moving average is $14.74 and its 200 day simple moving average is $14.33. Southern California Bancorp has a 52 week low of $12.30 and a 52 week high of $18.00.

Southern California Bancorp (NASDAQ:BCAL) last posted its earnings results on Monday, August 12th. The company reported $0.03 earnings per share for the quarter. Southern California Bancorp had a negative net margin of 4.51% and a positive return on equity of 6.72%. The company had revenue of $22.18 million during the quarter. As a group, equities analysts anticipate that Southern California Bancorp will post 0.87 earnings per share for the current year.

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.