Mendon Capital Advisors Corp Sells 16,508 Shares of Southern California Bancorp (NASDAQ:BCAL)

Mendon Capital Advisors Corp lessened its position in Southern California Bancorp (NASDAQ:BCAL) by 77.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,860 shares of the company’s stock after selling 16,508 shares during the quarter. Mendon Capital Advisors Corp’s holdings in Southern California Bancorp were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCAL. Mesirow Financial Investment Management Inc. bought a new position in shares of Southern California Bancorp in the first quarter worth about $159,000. Rhumbline Advisers acquired a new stake in Southern California Bancorp in the 2nd quarter valued at approximately $166,000. Pacific Ridge Capital Partners LLC bought a new position in Southern California Bancorp in the 2nd quarter worth approximately $359,000. ELCO Management Co. LLC lifted its holdings in shares of Southern California Bancorp by 25.2% during the second quarter. ELCO Management Co. LLC now owns 26,748 shares of the company’s stock worth $360,000 after buying an additional 5,380 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Southern California Bancorp during the second quarter worth approximately $461,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Insider Activity

In related news, Director Lester Machado sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 15,437 shares in the company, valued at $221,829.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered 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

NASDAQ:BCAL opened at $14.55 on Wednesday. The firm’s 50-day moving average is $14.71 and its 200-day moving average is $14.25. The company has a market cap of $269.76 million, a price-to-earnings ratio of 12.02 and a beta of 0.74. 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 issued its quarterly earnings results on Monday, August 12th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $22.18 million for the quarter. Southern California Bancorp had a return on equity of 5.92% and a net margin of 12.34%. Equities analysts predict that Southern California Bancorp will post 1.05 EPS 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.