SOUTHERN CALIFORNIA BANCORP AND CALIFORNIA BANCORP COMPLETE MERGER OF EQUALS
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Source: Globenewswire
Merger Announcement: Southern California Bancorp and California BanCorp have successfully completed their merger, effective July 31, 2024, creating a combined entity that will operate under the name California Bank of Commerce, N.A.
Future Operations: The merged company will maintain existing banking locations and services for customers, with full integration expected by September 23, 2024, while trading on Nasdaq under the symbol "BCAL."
Analyst Views on BCAL
Wall Street analysts forecast BCAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BCAL is 21.00 USD with a low forecast of 21.00 USD and a high forecast of 21.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 18.830
Low
21.00
Averages
21.00
High
21.00
Current: 18.830
Low
21.00
Averages
21.00
High
21.00
About BCAL
California BanCorp is the holding company for California Bank of Commerce, N.A. (the Bank). The Bank offers a range of financial products and services to individuals, professionals, and small to medium-sized businesses through its approximately 14 branch offices and four loan production offices serving Northern and Southern California. Its business financing includes lines of credit, capital equipment, and mergers and acquisitions-ownership transitions. Its commercial real estate and construction includes owner-occupied real estate, investor real estate, equity lines and loans, and construction financing. It provides various services, including lockbox, merchant services, and cash vault. It also provides information reporting and liquidity management, mobile banking, online banking, commercial cards, integrated payables, a cash reconciliation app, and fraud prevention. Its international banking includes import, standby, and export letters of credit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
