Q1 2025 Earnings Forecast for Banc of California by DA Davidson

Banc of California, Inc. (NYSE:BANC – Free Report) has received updated earnings forecasts from DA Davidson. In a research note published on January 28, 2025, analysts at DA Davidson, particularly G. Tenner, predicted that the bank will achieve earnings per share (EPS) of $0.24 for Q1 2025.

DA Davidson currently maintains a "Buy" rating for Banc of California, along with a price target of $19.00 for the stock. For the entirety of the current fiscal year, the consensus estimate for the company's earnings stands at $0.71 per share.

On January 23rd, Banc of California publicly released its quarterly earnings. The bank reported earnings of $0.28 per share, outperforming analysts' expectations that estimated it would earn $0.23, resulting in a $0.05 surprise over the consensus estimate. This quarter was notable for the bank, as it reported a negative net margin of 20.75% but managed a return on equity of 2.93%.

Recent Analyst Ratings

In addition to DA Davidson's forecast, other analysts have recently provided their insights on Banc of California. Wedbush raised its price target from $18.00 to $19.00 and gave Banc of California an “outperform” rating on October 23rd. Conversely, Barclays decreased its price target from $20.00 to $19.00, maintaining an “overweight” rating on January 24th. Citigroup initiated coverage of the bank on October 10th, assigning a “neutral” rating along with a price target of $15.00. Keefe, Bruyette & Woods also increased their price target, moving it from $17.50 to $20.00 and giving it an “outperform” rating as of December 4th. StockNews.com made a notable change by upgrading Banc of California from a “sell” to a “hold” rating on January 24th.

Currently, the stock ratings for Banc of California are split, with four analysts recommending a hold and seven suggesting a buy rating. According to MarketBeat.com, Banc of California holds a consensus rating of “Moderate Buy” and a consensus price target set at $18.20.

Banc of California Stock Overview

The stock for Banc of California opened at $16.22 recently. It boasts a market capitalization of approximately $2.58 billion, with a price-to-earnings (P/E) ratio of -3.80. Banc of California's share prices have fluctuated over the past year, reaching a low of $11.88 and a high of $18.08. Financial metrics show a debt-to-equity ratio of 0.31 along with current and quick ratios both standing at 0.89. The company has averaged a price of $16.16 over the last 50 days and $15.11 over the past 200 days.

Institutional Ownership of Banc of California

Recent activities in institutional trading reveal that several investors have changed their holdings in Banc of California. Marshall Wace LLP made a new investment in the bank in the second quarter with an approximate value of $166,000. The Manufacturers Life Insurance Company increased its investment in shares of Banc of California by 2.6% in the second quarter and now owns 77,384 shares valued at $989,000 after acquiring an additional 1,939 shares. Other notable new investments included those from Algert Global LLC and Mendon Capital Advisors Corp, while GAMMA Investing LLC raised its stake by 32.3% in the third quarter. As it stands, hedge funds and institutional investors control roughly 86.88% of Banc of California’s stock.

Recent Dividend Declaration

Banc of California has also announced a quarterly dividend that was paid out on January 2nd. Shareholders on record as of December 16th received a dividend payment of $0.10 per share. This dividend represents an annualized amount of $0.40, yielding 2.47% based on current prices. The company's dividend payout ratio (DPR) is recorded at -9.37%.

Company Overview

Banc of California, Inc serves as the bank holding corporation for Banc of California, providing a variety of banking services within California. These services range from deposit products like checking and savings accounts, money market accounts, demand accounts, time deposits, to offerings such as retirement accounts and safe deposit boxes.

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