Q1 Earnings Estimate for BANC Issued By DA Davidson

Banc of California, Inc. (NYSE:BANC) – Analysts at DA Davidson issued their Q1 2025 earnings per share (EPS) estimates for shares of Banc of California in a research note issued on Tuesday, January 28th. DA Davidson analyst G. Tenner expects that the bank will post earnings of $0.24 per share for the quarter. DA Davidson has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Banc of California’s current full-year earnings is $0.71 per share.

A number of other brokerages have also recently commented on BANC. Raymond James increased their target price on Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Citigroup initiated coverage on shares of Banc of California in a research report on Thursday, October 10th. They issued a “neutral” rating and a $15.00 target price on the stock. Wedbush increased their price target on shares of Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Barclays reduced their price objective on Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Banc of California presently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Banc of California Trading Up 0.0 %

Shares of Banc of California stock opened at $16.06 on Wednesday. The company has a 50-day moving average of $16.17 and a two-hundred day moving average of $15.10. The stock has a market cap of $2.55 billion, a PE ratio of -3.76 and a beta of 1.14. Banc of California has a 12-month low of $11.88 and a 12-month high of $18.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%.

Banc of California Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.49%. Banc of California’s dividend payout ratio is currently -9.37%.

Hedge Funds Weigh In On Banc of California

Several institutional investors have recently made changes to their positions in BANC. Verition Fund Management LLC lifted its stake in shares of Banc of California by 93.2% in the 3rd quarter. Verition Fund Management LLC now owns 2,476,387 shares of the bank’s stock worth $36,477,000 after acquiring an additional 1,194,839 shares during the period. Hodges Capital Management Inc. lifted its position in Banc of California by 10.7% in the 4th quarter. Hodges Capital Management Inc. now owns 2,281,410 shares of the bank’s stock worth $35,270,000 after buying an additional 221,125 shares in the last quarter. Basswood Capital Management L.L.C. raised its stake in shares of Banc of California by 589.8% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 1,732,894 shares of the bank’s stock worth $25,526,000 after purchasing an additional 1,481,692 shares in the last quarter. Wellington Management Group LLP bought a new stake in Banc of California in the third quarter worth approximately $21,207,000. Finally, Charles Schwab Investment Management Inc. increased its position in Banc of California by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,233,452 shares of the bank’s stock worth $18,169,000 after buying an additional 44,951 shares during the last quarter. 86.88% of the stock is owned by institutional investors.

Banc of California Company Profile

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.