DA Davidson Has Optimistic Outlook of BANC FY2025 Earnings

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

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

Banc of California Stock Performance

Banc of California stock opened at $16.00 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. The firm’s fifty day moving average price is $16.14 and its 200 day moving average price is $15.12. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 28.57 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.

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

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, December 16th. Banc of California’s dividend payout ratio is presently 71.43%.

Hedge Funds Weigh In On Banc of California

Large investors have recently bought and sold shares of the business. Crescent Grove Advisors LLC raised its position in shares of Banc of California by 0.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 99,084 shares of the bank’s stock worth $1,542,000 after purchasing an additional 664 shares during the period. CIBC Asset Management Inc grew its stake in Banc of California by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 15,052 shares of the bank’s stock worth $233,000 after buying an additional 683 shares during the last quarter. GAMMA Investing LLC increased its position in Banc of California by 32.3% in the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock worth $44,000 after buying an additional 734 shares during the period. World Investment Advisors LLC lifted its stake in Banc of California by 4.5% in the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank’s stock valued at $266,000 after buying an additional 779 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Banc of California by 5.8% during the third quarter. FMR LLC now owns 20,659 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,126 shares during the period. 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.