DA Davidson Boosts Earnings Estimates for Banc of California

Banc of California, Inc. (NYSE:BANC) – Equities researchers at DA Davidson increased their FY2025 earnings per share (EPS) estimates for Banc of California in a research note issued to investors on Wednesday, April 2nd. DA Davidson analyst G. Tenner now forecasts that the bank will earn $1.31 per share for the year, up from their previous forecast 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 posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%.

Several other equities research analysts have also commented on BANC. Raymond James upped their target price on Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Barclays cut their price target on Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Stephens cut their target price on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised shares of Banc of California from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Banc of California Stock Performance

Shares of BANC opened at $12.99 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $14.91 and its two-hundred day simple moving average is $15.40. Banc of California has a 12 month low of $11.88 and a 12 month high of $18.08. The stock has a market capitalization of $2.06 billion, a P/E ratio of 23.19 and a beta of 1.18.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 3.08%. Banc of California’s dividend payout ratio (DPR) is currently 71.43%.

Hedge Funds Weigh In On Banc of California

Several large investors have recently bought and sold shares of BANC. PL Capital Advisors LLC raised its holdings in shares of Banc of California by 1,446.0% in the fourth quarter. PL Capital Advisors LLC now owns 46,754,426 shares of the bank’s stock valued at $722,823,000 after purchasing an additional 43,730,207 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Banc of California by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,913,012 shares of the bank’s stock valued at $168,716,000 after buying an additional 644,330 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Banc of California by 274.6% during the 4th quarter. Wellington Management Group LLP now owns 5,393,076 shares of the bank’s stock worth $83,377,000 after buying an additional 3,953,380 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Banc of California by 2,119.0% in the 4th quarter. Millennium Management LLC now owns 2,876,914 shares of the bank’s stock worth $44,477,000 after buying an additional 2,747,262 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Banc of California by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,556,614 shares of the bank’s stock valued at $39,525,000 after acquiring an additional 62,269 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors.

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.