DA Davidson Has Pessimistic Outlook of BANC FY2025 Earnings

Banc of California, Inc. (NYSE:BANC) – DA Davidson reduced their FY2025 EPS estimates for shares of Banc of California in a note issued to investors on Thursday, December 19th. DA Davidson analyst G. Tenner now expects that the bank will earn $1.35 per share for the year, down from their prior estimate 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 posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The business had revenue of $431.44 million for the quarter, compared to analysts’ expectations of $229.46 million. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. During the same quarter in the prior year, the business earned $0.30 EPS.

A number of other brokerages have also commented on BANC. Stephens upped their price objective on Banc of California from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Barclays raised their price target 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. Citigroup initiated coverage on shares of Banc of California in a research report on Thursday, October 10th. They set a “neutral” rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective on Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.80.

Banc of California Stock Up 0.4 %

Banc of California stock opened at $15.42 on Friday. Banc of California has a twelve month low of $11.88 and a twelve month high of $18.08. The stock has a market cap of $2.45 billion, a P/E ratio of -3.61 and a beta of 1.14. The company’s 50-day moving average price is $16.15 and its two-hundred day moving average price is $14.53. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, December 16th. Banc of California’s dividend payout ratio (DPR) is currently -9.37%.

Institutional Investors Weigh In On Banc of California

Several institutional investors and hedge funds have recently made changes to their positions in BANC. Fifth Third Bancorp increased its stake in shares of Banc of California by 146.3% in the 2nd quarter. Fifth Third Bancorp now owns 2,143 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,273 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Banc of California in the 3rd quarter valued at $29,000. GAMMA Investing LLC increased its stake in Banc of California by 32.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after purchasing an additional 734 shares in the last quarter. Mendon Capital Advisors Corp acquired a new position in shares of Banc of California during the second quarter valued at about $102,000. Finally, Paloma Partners Management Co acquired a new position in shares of Banc of California during the third quarter valued at about $158,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

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.