What is DA Davidson’s Forecast for BANC FY2025 Earnings?

Banc of California, Inc. (NYSE:BANC) – Equities researchers at DA Davidson raised their FY2025 EPS estimates for Banc of California in a research note issued on Tuesday, January 28th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $1.75 per share for the year, up from their prior estimate of $1.35. 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 $0.71 per share.

Banc of California (NYSE:BANC) last released its quarterly earnings results 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 positive return on equity of 2.93% and a negative net margin of 20.75%.

Other equities research analysts have also issued reports about the stock. Citigroup started coverage on shares of Banc of California in a research note on Thursday, October 10th. They issued a “neutral” rating and a $15.00 price objective on the stock. 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 report on Monday. Wells Fargo & Company raised Banc of California from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company 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 report on Friday, January 24th. Finally, StockNews.com raised Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Banc of California presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.20.

Banc of California Stock Performance

NYSE:BANC opened at $16.06 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California has a fifty-two week low of $11.88 and a fifty-two week high of $18.08. The company has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $15.10. The company has a market capitalization of $2.55 billion, a PE ratio of -3.76 and a beta of 1.14.

Institutional Investors Weigh In On Banc of California

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new position in Banc of California during the 3rd quarter valued at about $29,000. GAMMA Investing LLC lifted its holdings in shares of Banc of California by 32.3% in the third 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 purchased a new position in shares of Banc of California during the second quarter valued at approximately $102,000. KBC Group NV grew its holdings in Banc of California by 71.0% during the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock worth $113,000 after buying an additional 3,026 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Banc of California in the 3rd quarter valued at $158,000. 86.88% of the stock is owned by institutional investors.

Banc of California Announces Dividend

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