Southern California Bancorp (NASDAQ:BCAL) Trading 6.5% Higher After Better-Than-Expected Earnings

Southern California Bancorp (NASDAQ:BCAL)’s share price shot up 6.5% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $16.23 and last traded at $16.43. 52,708 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 55,690 shares. The stock had previously closed at $15.43.

The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.08. Southern California Bancorp had a positive return on equity of 5.71% and a negative net margin of 4.51%.

Institutional Trading of Southern California Bancorp

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Southern California Bancorp in the third quarter valued at approximately $123,000. Empowered Funds LLC acquired a new position in shares of Southern California Bancorp during the third quarter worth approximately $160,000. Creekside Partners bought a new position in Southern California Bancorp in the 3rd quarter worth approximately $190,000. Jane Street Group LLC acquired a new stake in Southern California Bancorp in the 3rd quarter valued at approximately $202,000. Finally, MetLife Investment Management LLC raised its stake in Southern California Bancorp by 348.8% during the 3rd quarter. MetLife Investment Management LLC now owns 14,719 shares of the company’s stock valued at $218,000 after acquiring an additional 11,439 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Southern California Bancorp Trading Up 5.4 %

The company has a market cap of $523.41 million, a price-to-earnings ratio of -203.38 and a beta of 1.12. The stock has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $15.46.

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.