Equities Analysts Issue Forecasts for BANC Q1 Earnings

Banc of California, Inc. (NYSE:BANC - Free Report) - Investment analysts at DA Davidson issued their Q1 2025 earnings estimates for shares of Banc of California in a research report issued on Tuesday, January 28th. DA Davidson analyst G. Tenner anticipates that the bank will post earnings of $0.24 per share for the quarter. DA Davidson has a "Buy" rating and a $19.00 price objective on the stock. The consensus estimate for Banc of California's current full-year earnings is $0.71 per share.

BANC has been the subject of a number of other reports. Wedbush boosted their price target on Banc of California from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Barclays lowered their target price on shares of Banc of California from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Banc of California from $17.50 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised shares of Banc of California from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $17.00 to $20.00 in a research report on Monday, January 6th. Finally, Raymond James raised their target price on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Banc of California has an average rating of "Moderate Buy" and a consensus price target of $18.20.

Banc of California Stock Up 0.0 %

Banc of California stock traded up $0.01 during midday trading on Wednesday, hitting $16.06. The stock had a trading volume of 1,728,458 shares, compared to its average volume of 2,004,053. The business has a fifty day moving average price of $16.17 and a 200 day moving average price of $15.10. Banc of California has a 12 month low of $11.88 and a 12 month high of $18.08. The stock has a market cap of $2.55 billion, a P/E ratio of -3.76 and a beta of 1.14. 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 - Get Free Report) last released its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate 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%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BANC. Future Financial Wealth Managment LLC acquired a new stake in Banc of California in the third quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Banc of California by 32.3% in 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 period. Mendon Capital Advisors Corp bought a new position in Banc of California during the second quarter valued at about $102,000. KBC Group NV grew its holdings in Banc of California by 71.0% during the fourth quarter. KBC Group NV now owns 7,286 shares of the bank's stock worth $113,000 after acquiring an additional 3,026 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Banc of California in the third quarter worth about $158,000. 86.88% of the stock is owned by institutional investors and hedge funds.

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, December 16th. Banc of California's dividend payout ratio (DPR) is -9.37%.

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.