Q1 EPS Estimates for Banc of California Lowered by Wedbush

Banc of California, Inc. (NYSE:BANC - Free Report) - Analysts at Wedbush cut their Q1 2025 earnings per share (EPS) estimates for shares of Banc of California in a research note issued on Wednesday, October 23rd. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.28 for the quarter, down from their previous forecast of $0.29. Wedbush currently has a "Outperform" rating and a $19.00 target price on the stock. The consensus estimate for Banc of California's current full-year earnings is $0.61 per share. Wedbush also issued estimates for Banc of California's Q4 2025 earnings at $0.39 EPS and FY2026 earnings at $1.60 EPS.

Several other research analysts also recently weighed in on BANC. Raymond James upped their target price on Banc of California from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of Banc of California from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Tuesday, July 9th. Stephens lifted their price objective on shares of Banc of California from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup assumed coverage on shares of Banc of California in a research note on Thursday, October 10th. They set a "neutral" rating and a $15.00 price target on the stock. Finally, Truist Financial raised their price objective on shares of Banc of California from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.20.

Banc of California Stock Down 1.5 %

Shares of NYSE:BANC traded down $0.23 during trading on Friday, reaching $15.22. The stock had a trading volume of 1,919,550 shares, compared to its average volume of 2,333,871. The firm's 50-day simple moving average is $14.44 and its 200 day simple moving average is $13.91. The company has a market capitalization of $2.39 billion, a P/E ratio of -4.66 and a beta of 1.14. Banc of California has a one year low of $10.53 and a one year high of $15.69. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.11. Banc of California had a negative net margin of 21.99% and a positive return on equity of 2.12%. The firm had revenue of $431.44 million for the quarter, compared to analysts' expectations of $229.46 million. During the same period in the prior year, the business posted $0.30 earnings per share.

Banc of California Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.63%. Banc of California's dividend payout ratio (DPR) is -12.01%.

Insider Buying and Selling

In other news, Director Richard J. Lashley sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the director now directly owns 719,826 shares in the company, valued at approximately $10,077,564. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.37% of the stock is owned by corporate insiders.

Institutional Trading of Banc of California

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in Banc of California by 146.3% during the 2nd quarter. Fifth Third Bancorp now owns 2,143 shares of the bank's stock valued at $27,000 after purchasing an additional 1,273 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Banc of California during the 3rd quarter worth $29,000. GAMMA Investing LLC raised 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 worth $44,000 after purchasing an additional 734 shares during the period. Mendon Capital Advisors Corp acquired a new stake in shares of Banc of California during the second quarter worth $102,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Banc of California in the 2nd quarter valued at $132,000. 86.88% of the stock is owned by institutional investors and hedge funds.

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.