DA Davidson Forecasts Higher Earnings for Banc of California

Banc of California, Inc. (NYSE:BANC) – Equities research analysts at DA Davidson lifted their FY2025 earnings estimates for shares of Banc of California in a report released on Wednesday, April 2nd. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $1.31 for the year, up from their prior estimate of $1.30. The consensus estimate for Banc of California’s current full-year earnings is $1.31 per share.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 has been the subject of several other research reports. Stephens lowered their price objective on 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. StockNews.com raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. 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 stock from $17.00 to $20.00 in a research note on Monday, January 6th. Barclays lowered their target price on Banc of California from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. started coverage on Banc of California in a research report on Friday, February 7th. They issued a “neutral” rating and a $18.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Banc of California Trading Down 5.0 %

Shares of BANC stock opened at $12.32 on Friday. Banc of California has a twelve month low of $11.88 and a twelve month high of $18.08. The stock’s fifty day simple moving average is $14.84 and its 200 day simple moving average is $15.39. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.96 billion, a P/E ratio of 21.99 and a beta of 1.18.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.25%. Banc of California’s dividend payout ratio (DPR) is presently 71.43%.

Institutional Trading of Banc of California

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Banc of California by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,233,452 shares of the bank’s stock valued at $18,169,000 after acquiring an additional 44,951 shares during the period. FMR LLC grew its position in Banc of California by 5.8% in the 3rd quarter. FMR LLC now owns 20,659 shares of the bank’s stock valued at $304,000 after purchasing an additional 1,126 shares during the period. BNP Paribas Financial Markets increased its stake in Banc of California by 34.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 242,534 shares of the bank’s stock valued at $3,573,000 after purchasing an additional 62,014 shares in the last quarter. Paloma Partners Management Co bought a new stake in Banc of California during the 3rd quarter valued at $158,000. Finally, Quadrature Capital Ltd raised its holdings in Banc of California by 12.2% during the third quarter. Quadrature Capital Ltd now owns 19,117 shares of the bank’s stock worth $281,000 after buying an additional 2,080 shares during the last quarter. 86.88% of the stock is currently 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.