Southern California Bancorp initiated with a Buy at DA Davidson

DA Davidson analyst Gary Tenner initiated coverage of Southern California Bancorp with a Buy rating and $17 price target. Bank of Southern California has a traditional commercial banking approach of focusing on small and mid-sized businesses through its market area and its management team has successfully executed on a similar approach at other institutions, giving the firm confidence they will continue to generate long-term growth of core deposits and maintain solid asset quality and profitability, the analyst tells investors.