What is DA Davidson’s Forecast for BANC FY2025 Earnings?

Banc of California, Inc. (NYSE:BANC) – DA Davidson decreased their FY2025 earnings estimates for shares of Banc of California in a research note issued to investors on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $1.35 per share for the year, down from their prior forecast of $1.36. 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 $0.70 per share.

Banc of California (NYSE:BANC) last released its earnings results on Tuesday, October 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.11. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. The firm had revenue of $431.44 million during the quarter, compared to analyst estimates of $229.46 million. During the same quarter last year, the business earned $0.30 EPS.

BANC has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Banc of California from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target 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. Raymond James raised their price objective on Banc of California from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup initiated coverage on Banc of California in a report on Thursday, October 10th. They issued a “neutral” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Banc of California currently has a consensus rating of “Hold” and an average price target of $17.80.

Banc of California Stock Performance

Shares of Banc of California stock opened at $15.42 on Friday. The stock’s fifty day moving average is $16.16 and its two-hundred day moving average is $14.54. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.45 billion, a PE ratio of -3.61 and a beta of 1.14. Banc of California has a 52 week low of $11.88 and a 52 week high of $18.08.

Institutional Investors Weigh In On Banc of California

Institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC raised its holdings in shares of Banc of California by 4.5% during the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank’s stock valued at $266,000 after acquiring an additional 779 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Banc of California in the third quarter valued at about $167,000. First Dallas Securities Inc. grew its stake in shares of Banc of California by 15.4% in the 3rd quarter. First Dallas Securities Inc. now owns 61,975 shares of the bank’s stock valued at $913,000 after buying an additional 8,250 shares during the period. Barclays PLC increased its stake in Banc of California by 4.4% during the third quarter. Barclays PLC now owns 425,634 shares of the bank’s stock worth $6,270,000 after acquiring an additional 17,876 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Banc of California by 3.7% during the 3rd quarter. Hodges Capital Management Inc. now owns 2,060,285 shares of the bank’s stock worth $30,348,000 after purchasing an additional 74,039 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.

Banc of California Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Monday, December 16th. Banc of California’s dividend payout ratio (DPR) is presently -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.