DA Davidson Predicts Higher Earnings for Banc of California

Banc of California, Inc. (NYSE:BANC - Free Report) - Stock analysts at DA Davidson lifted their FY2026 earnings per share estimates for shares of Banc of California in a research note issued on Wednesday, April 2nd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $1.79 per share for the year, up from their previous estimate of $1.75. The consensus estimate for Banc of California's current full-year earnings is $1.31 per share.

Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.20% and a net margin of 7.06%.

Other equities analysts also recently issued research reports about the stock. Stephens lowered their target price on shares of Banc of California from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Barclays dropped their price objective on Banc of California from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company raised Banc of California from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $17.00 to $20.00 in a research note on Monday, January 6th. Raymond James boosted their price target on Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. assumed coverage on Banc of California in a report on Friday, February 7th. They set a "neutral" rating and a $18.00 price target on the stock. Five 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.18.

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Banc of California Trading Up 1.4 %

Banc of California stock traded up $0.17 during mid-day trading on Thursday, hitting $12.28. 1,556,113 shares of the stock were exchanged, compared to its average volume of 2,261,828. The firm's fifty day simple moving average is $14.76 and its two-hundred day simple moving average is $15.38. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. Banc of California has a 12 month low of $11.70 and a 12 month high of $18.08. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.77 and a beta of 0.85.

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 3.26%. Banc of California's payout ratio is 71.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management bought a new stake in Banc of California during the fourth quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Banc of California during the 4th quarter worth $36,000. Jones Financial Companies Lllp grew its stake in shares of Banc of California by 35.1% in the 4th quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock worth $55,000 after acquiring an additional 928 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Banc of California by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank's stock valued at $68,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Banc of California during the fourth quarter valued at about $97,000. 86.88% of the stock is currently owned by institutional investors and hedge funds.

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.