DA Davidson Has Negative Outlook of BCAL FY2024 Earnings

Southern California Bancorp (NASDAQ:BCAL) – Investment analysts at DA Davidson reduced their FY2024 EPS estimates for Southern California Bancorp in a research report issued to clients and investors on Wednesday, October 30th. DA Davidson analyst G. Tenner now forecasts that the company will earn $0.60 per share for the year, down from their previous forecast of $0.90. The consensus estimate for Southern California Bancorp’s current full-year earnings is $1.03 per share.

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of Southern California Bancorp from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Southern California Bancorp Stock Performance

Shares of BCAL opened at $14.62 on Friday. The company has a market capitalization of $271.20 million, a price-to-earnings ratio of -182.75 and a beta of 0.74. The company’s 50 day simple moving average is $14.48 and its 200 day simple moving average is $14.20. Southern California Bancorp has a 1 year low of $12.30 and a 1 year high of $18.00.

Southern California Bancorp (NASDAQ:BCAL) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $22.18 million for the quarter. Southern California Bancorp had a negative net margin of 4.51% and a positive return on equity of 6.72%.

Insider Buying and Selling

In related news, Director Lester Machado sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $14.37, for a total transaction of $143,700.00. Following the completion of the transaction, the director now owns 15,437 shares of the company’s stock, valued at approximately $221,829.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Southern California Bancorp

Several large investors have recently made changes to their positions in BCAL. Keystone Wealth Services LLC acquired a new stake in shares of Southern California Bancorp in the third quarter worth $617,000. Bank of New York Mellon Corp acquired a new stake in shares of Southern California Bancorp in the second quarter worth $461,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Southern California Bancorp in the second quarter worth $359,000. Rhumbline Advisers acquired a new stake in shares of Southern California Bancorp in the second quarter worth $166,000. Finally, Hennessy Advisors Inc. increased its position in shares of Southern California Bancorp by 8.8% in the second quarter. Hennessy Advisors Inc. now owns 124,000 shares of the company’s stock worth $1,670,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds 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.