DA Davidson Has Pessimistic Outlook of BANC FY2025 Earnings

Banc of California, Inc. (NYSE:BANC) – DA Davidson reduced their FY2025 earnings estimates for shares of Banc of California in a note issued to investors on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will earn $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 issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.14 by $0.11. The firm had revenue of $431.44 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.30 earnings per share.

Other equities research analysts also recently issued reports about the stock. Stephens upped their price objective on shares of Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Barclays boosted their target price on shares of Banc of California from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their price target on shares of Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial upped their price objective on Banc of California from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.80.

Banc of California Price Performance

Shares of NYSE:BANC opened at $15.36 on Friday. Banc of California has a 1-year low of $11.88 and a 1-year high of $18.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.44 billion, a PE ratio of -3.60 and a beta of 1.14. The stock’s fifty day simple moving average is $16.15 and its two-hundred day simple moving average is $14.53.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BANC. Seven Eight Capital LP purchased a new position in shares of Banc of California in the 2nd quarter worth about $549,000. Hodges Capital Management Inc. grew its position in Banc of California by 13.6% during the second quarter. Hodges Capital Management Inc. now owns 1,986,246 shares of the bank’s stock valued at $25,384,000 after acquiring an additional 238,242 shares during the last quarter. Hollencrest Capital Management raised its stake in shares of Banc of California by 71.4% during the second quarter. Hollencrest Capital Management now owns 107,842 shares of the bank’s stock worth $1,378,000 after acquiring an additional 44,920 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Banc of California by 461.6% during the third quarter. Assenagon Asset Management S.A. now owns 651,695 shares of the bank’s stock worth $9,599,000 after acquiring an additional 535,654 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Banc of California by 34.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 242,534 shares of the bank’s stock worth $3,573,000 after acquiring an additional 62,014 shares during the last quarter. 86.88% of the stock is currently owned by institutional investors.

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.60%. The ex-dividend date is Monday, December 16th. Banc of California’s dividend payout ratio is -9.37%.

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.