Increase in Short Interest for Southern California Bancorp (NASDAQ:BCAL)

Southern California Bancorp (NASDAQ:BCAL) experienced a notable rise in its short interest for the month of January. By January 15th, the total short interest had reached 362,300 shares. This marks an increase of 6.5% from the total of 340,300 shares observed at the end of December. Currently, short selling represents about 1.6% of the company's outstanding shares. Given the average daily trading volume of 69,500 shares, the days-to-cover ratio stands at 5.2 days, indicating how long it would take to cover existing short positions.

Analyst Ratings

In related news, financial analyst firm DA Davidson has adjusted their outlook for Southern California Bancorp, reducing its price target from $22.00 to $20.00, while maintaining a "buy" rating on the stock.

Institutional Investment Movements

Several institutional investors have made significant movements concerning their holdings in Southern California Bancorp recently. For instance, SG Americas Securities LLC acquired a new stake valued at around $123,000 in the third quarter. Empowered Funds LLC also bought a new stake valued at approximately $160,000, while Creekside Partners invested $190,000 in the same period. Additionally, Jane Street Group LLC and Aspiriant LLC each made new purchases worth $202,000 and $230,000, respectively. Currently, institutional investors hold about 55.40% of the company's stock.

Recent Stock Performance

The stock of Southern California Bancorp declined by 2.9% recently, with shares trading down $0.48 to $16.12. The trading volume on that day was 26,585 shares, which is lower than the average volume of 67,409. The company's stock has a moving average price of $16.53 over the last fifty days and $15.50 over the last 200 days. Southern California Bancorp's 52-week trading range is between a low of $12.30 and a high of $18.49, with a market capitalization of approximately $518.48 million. It currently has a price-to-earnings ratio of 84.74 and a beta of 1.11.

Southern California Bancorp last reported its quarterly earnings on January 29th, posting earnings per share (EPS) of $0.53. This figure exceeded analysts' expectations, which were set at $0.45, marking a positive performance for the quarter. The company recorded a return on equity of 8.97% and a net profit margin of 2.94%. Analysts project that Southern California Bancorp will achieve an EPS of 1.81 for the ongoing fiscal year.

Company Overview

Southern California Bancorp operates as the holding entity for the Bank of Southern California, N.A. It provides a wide array of financial products and services tailored for individuals, professionals, and small to medium-sized businesses. The offerings include checking accounts, personal and business savings accounts, money market accounts, and certificates of deposit.

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