DA Davidson Lifts Earnings Estimates for Banc of California

Banc of California, Inc. (NYSE:BANC) – Research analysts at DA Davidson upped their FY2025 earnings per share estimates for Banc of California in a note issued to investors on Tuesday, January 28th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $1.75 per share for the year, up from their previous estimate of $1.35. DA Davidson currently has a “Buy” rating and a $19.00 target price on the stock. The consensus estimate for Banc of California’s current full-year earnings is $0.71 per share.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, beating the consensus estimate 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%.

Other research analysts have also issued research reports about the company. Barclays dropped their price target on Banc of California from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Raymond James raised their price objective on shares of Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company raised shares of Banc of California from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Monday, January 6th. Finally, Wedbush lifted their price target on shares of Banc of California from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Banc of California presently has an average rating of “Moderate Buy” and an average price target of $18.20.

Banc of California Price Performance

NYSE:BANC opened at $16.22 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $16.16 and its two-hundred day simple moving average is $15.11. The stock has a market cap of $2.58 billion, a PE ratio of -3.80 and a beta of 1.14. Banc of California has a 52 week low of $11.88 and a 52 week high of $18.08.

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Monday, December 16th. Banc of California’s payout ratio is currently -9.37%.

Institutional Trading of Banc of California

Hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Banc of California in the third quarter valued at about $29,000. GAMMA Investing LLC lifted its stake in shares of Banc of California by 32.3% in the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after purchasing an additional 734 shares during the period. KBC Group NV lifted its stake in shares of Banc of California by 71.0% in the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after purchasing an additional 3,026 shares during the period. Mendon Capital Advisors Corp acquired a new stake in shares of Banc of California in the second quarter valued at about $102,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Banc of California in the third quarter valued at about $158,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

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.