State Street Corp Increases Stake in Southern California Bancorp

State Street Corp has significantly increased its investment in Southern California Bancorp (NASDAQ:BCAL) by 113.7% during the third quarter, as detailed in its latest Form 13F filing with the Securities and Exchange Commission. Following this increase, the institutional investor now holds 305,234 shares of Southern California Bancorp, having purchased an additional 162,381 shares during the quarter. The total value of State Street Corp's holdings in the company is approximately $4,514,000.

Other institutional investors and hedge funds have also made changes to their positions in Southern California Bancorp. Fourthstone LLC raised its stake by 52.3% in the third quarter, now owning 2,696,523 shares valued at around $39,882,000 after acquiring 925,904 additional shares. Likewise, Banc Funds Co. LLC increased its holdings by 288.1%, now owning 1,412,186 shares worth $20,886,000 after purchasing 1,048,281 shares in the same period.

Endeavour Capital Advisors Inc. also reported a 0.8% increase in its holdings during the second quarter, amounting to 1,131,513 shares valued at $15,241,000 after adding 8,521 shares. The Manufacturers Life Insurance Company showed a significant enhancement in its position, growing it by 193.1% to own 785,115 shares worth $11,612,000 after buying 517,217 shares. Meanwhile, Curi RMB Capital LLC raised its stake by a remarkable 500.9%, now holding 393,456 shares valued at $5,819,000 after acquiring an additional 327,981 shares during the quarter. As of now, approximately 55.40% of Southern California Bancorp's stock is owned by hedge funds and other institutional investors.

Current Stock Performance of Southern California Bancorp

The stock price of Southern California Bancorp (BCAL) has seen a decline of 1.6%. It opened at $16.75 on Monday, with a notable 52-week trading range between a low of $12.30 and a high of $18.49. The firm carries a market capitalization of $538.76 million, and its price-to-earnings ratio is reported at -209.38. The stock's beta is 1.04, and it has a 50-day moving average price of $16.67 alongside a 200-day moving average of $15.14.

About Southern California Bancorp

Southern California Bancorp serves as the holding company for Bank of Southern California, N.A., which provides a range of financial products aimed at individuals, professionals, and small to medium-sized businesses. Their offerings include checking accounts, personal and business savings accounts, money market accounts, and certificates of deposit.

Conclusion

With increased institutional investments and a solid service profile, Southern California Bancorp remains a notable player in the financial services sector, warranting attention from investors and analysts alike.

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