FY2025 EPS Estimate for Banc of California Raised by Analyst

Banc of California, Inc. (NYSE:BANC) – DA Davidson increased their FY2025 earnings per share estimates for Banc of California in a research note issued on Wednesday, April 2nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $1.31 for the year, up from their prior forecast of $1.30. The consensus estimate for Banc of California’s current full-year earnings is $1.31 per share.

Banc of California (NYSE:BANC) last released its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%.

BANC has been the subject of several other reports. StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Raymond James boosted their price objective on shares of Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. initiated coverage on shares of Banc of California in a research report on Friday, February 7th. They set a “neutral” rating and a $18.00 price target for the company. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $20.00 in a research note on Monday, January 6th. Finally, Barclays cut their price objective on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Banc of California has an average rating of “Moderate Buy” and a consensus target price of $18.18.

Banc of California Stock Performance

NYSE:BANC opened at $12.32 on Friday. The firm has a market capitalization of $1.96 billion, a PE ratio of 21.99 and a beta of 1.18. The stock’s fifty day moving average is $14.84 and its 200 day moving average is $15.39. Banc of California has a fifty-two week low of $11.88 and a fifty-two week high of $18.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.25%. Banc of California’s payout ratio is 71.43%.

Institutional Trading of Banc of California

Several large investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new position in Banc of California in the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Banc of California in the fourth quarter worth about $36,000. Jones Financial Companies Lllp boosted its holdings in Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock valued at $55,000 after purchasing an additional 928 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Banc of California by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock valued at $68,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Banc of California during the 4th quarter worth approximately $97,000. 86.88% of the stock is currently owned by institutional investors and hedge funds.

About Banc of California

Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.