Equities Analysts Issue Forecasts for BANC Q1 Earnings

Banc of California, Inc. (NYSE:BANC) – Research analysts at DA Davidson issued their Q1 2025 EPS estimates for shares of Banc of California in a report released on Tuesday, January 28th. DA Davidson analyst G. Tenner forecasts that the bank will post earnings per share of $0.24 for the quarter. 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.

Other research analysts have also issued research reports about the stock. Wedbush upped 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. Barclays cut their price objective on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Stephens reduced their price objective on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday. Raymond James lifted their target price 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. Finally, StockNews.com raised Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Banc of California Stock Performance

NYSE BANC opened at $16.06 on Wednesday. Banc of California has a 1 year low of $11.88 and a 1 year high of $18.08. The firm has a market capitalization of $2.55 billion, a P/E ratio of -3.76 and a beta of 1.14. The firm’s fifty day moving average price is $16.17 and its two-hundred day moving average price is $15.10. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%.

Banc of California Dividend Announcement

The company 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. The ex-dividend date was Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.49%. Banc of California’s payout ratio is -9.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Basswood Capital Management L.L.C. increased its stake in shares of Banc of California by 589.8% during the third quarter. Basswood Capital Management L.L.C. now owns 1,732,894 shares of the bank’s stock valued at $25,526,000 after purchasing an additional 1,481,692 shares in the last quarter. Wellington Management Group LLP bought a new position in Banc of California during the 3rd quarter valued at approximately $21,207,000. Verition Fund Management LLC raised its stake in Banc of California by 93.2% during the third quarter. Verition Fund Management LLC now owns 2,476,387 shares of the bank’s stock valued at $36,477,000 after buying an additional 1,194,839 shares during the last quarter. Azora Capital LP bought a new stake in Banc of California in the third quarter worth $12,494,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Banc of California by 461.6% in the third quarter. Assenagon Asset Management S.A. now owns 651,695 shares of the bank’s stock worth $9,599,000 after acquiring an additional 535,654 shares during the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

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.