DA Davidson raised the firm’s price target on California BanCorp (CALB) to $36 from $30 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat while noting that its merger with Southern California Bancorp (BCAL) – a similarly business-focused institution with a complementary balance sheet and culture – is attractive strategically and financially.
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Read More on CALB:
- California BanCorp Shares Q4 and Annual Financials
- California BanCorp Announces Merger Agreement Disclosure
- California BanCorp reports Q4 EPS 63c, consensus 61c
- California BanCorp Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2023
- California BanCorp and Southern California Bancorp enter merger agreement
