What is DA Davidson’s Forecast for BANC FY2025 Earnings?

Banc of California, Inc. (NYSE:BANC) – Research analysts at DA Davidson lowered their FY2025 EPS estimates for shares of Banc of California in a report released on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $1.35 for the year, down from their previous estimate of $1.36. 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 $0.70 per share.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. The business had revenue of $431.44 million during the quarter, compared to analysts’ expectations of $229.46 million. During the same quarter in the prior year, the company earned $0.30 EPS.

A number of other analysts have also commented on BANC. Barclays boosted their price objective on shares of Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Stephens increased their price target on Banc of California from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Wedbush boosted their price objective on Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on Banc of California from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.80.

Banc of California Stock Performance

Shares of BANC opened at $15.42 on Friday. The firm has a market cap of $2.45 billion, a P/E ratio of -3.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California has a twelve month low of $11.88 and a twelve month high of $18.08. The firm’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $14.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Banc of California in the third quarter worth approximately $29,000. Fifth Third Bancorp grew its holdings in shares of Banc of California by 146.3% during the second quarter. Fifth Third Bancorp now owns 2,143 shares of the bank’s stock valued at $27,000 after buying an additional 1,273 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Banc of California by 32.3% during the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after buying an additional 734 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of Banc of California in the 2nd quarter worth $102,000. Finally, Paloma Partners Management Co purchased a new stake in Banc of California in the 3rd quarter valued at about $158,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

Banc of California Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, December 16th. Banc of California’s dividend payout ratio (DPR) is -9.37%.

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.