What is DA Davidson’s Estimate for BANC Q1 Earnings?

Banc of California, Inc. (NYSE:BANC) – Investment analysts at DA Davidson issued their Q1 2025 earnings per share estimates for Banc of California in a research report issued on Tuesday, January 28th. DA Davidson analyst G. Tenner expects 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 topic of several other reports. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $20.00 in a report on Monday, January 6th. Barclays decreased their price target on shares of 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. Citigroup started coverage on shares of Banc of California in a report on Thursday, October 10th. They set a “neutral” rating and a $15.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James lifted their target price on Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Banc of California Trading Up 0.3 %

Shares of BANC stock opened at $16.07 on Wednesday. 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 $16.17 and its 200 day simple moving average is $15.09. 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 firm has a market capitalization of $2.55 billion, a P/E ratio of -3.76 and a beta of 1.14.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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%.

Hedge Funds Weigh In On Banc of California

Institutional investors and hedge funds have recently modified their holdings of the business. Basswood Capital Management L.L.C. boosted its stake in Banc of California by 589.8% during the third quarter. Basswood Capital Management L.L.C. now owns 1,732,894 shares of the bank’s stock worth $25,526,000 after acquiring an additional 1,481,692 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Banc of California during the third quarter valued at about $21,207,000. Verition Fund Management LLC boosted its position in shares of Banc of California by 93.2% during the 3rd quarter. Verition Fund Management LLC now owns 2,476,387 shares of the bank’s stock worth $36,477,000 after purchasing an additional 1,194,839 shares in the last quarter. Azora Capital LP bought a new stake in Banc of California in the 3rd quarter valued at about $12,494,000. Finally, Assenagon Asset Management S.A. raised its stake in Banc of California by 461.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 651,695 shares of the bank’s stock worth $9,599,000 after buying an additional 535,654 shares during the period. 86.88% of the stock is currently owned by institutional investors.

Banc of California Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.49%. Banc of California’s payout ratio is currently 71.43%.

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.