Wedbush Weighs in on Banc of California, Inc.’s Q1 2025 Earnings (NYSE:BANC)

Banc of California, Inc. (NYSE:BANC) – Investment analysts at Wedbush decreased their Q1 2025 earnings per share estimates for shares of Banc of California in a research report issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $0.29 per share for the quarter, down from their prior estimate of $0.32. Wedbush has a “Outperform” rating and a $18.00 price target on the stock. The consensus estimate for Banc of California’s current full-year earnings is $0.59 per share. Wedbush also issued estimates for Banc of California’s Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.33 EPS and FY2025 earnings at $1.30 EPS.

Banc of California (NYSE:BANC) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.10 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.09). Banc of California had a positive return on equity of 2.12% and a negative net margin of 21.99%. The firm had revenue of $492.38 million for the quarter, compared to analysts’ expectations of $271.42 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share.

Several other analysts have also recently commented on BANC. Barclays lowered their price target on Banc of California from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Raymond James upgraded Banc of California from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, September 17th. Wells Fargo & Company cut their price objective on Banc of California from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Truist Financial lifted their target price 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. Finally, Stephens reiterated an “equal weight” rating and issued a $14.00 target price on shares of Banc of California in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Banc of California has a consensus rating of “Hold” and a consensus price target of $16.28.

Banc of California Stock Performance

NYSE BANC opened at $14.82 on Wednesday. Banc of California has a 52-week low of $9.96 and a 52-week high of $15.54. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $13.98 and its 200 day moving average price is $13.91. The firm has a market cap of $2.33 billion, a P/E ratio of -4.45 and a beta of 1.13.

Banc of California Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 16th. Banc of California’s dividend payout ratio (DPR) is -12.01%.

Insider Buying and Selling

In other news, Director Richard J. Lashley sold 75,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.00, for a total value of $1,050,000.00. Following the completion of the sale, the director now directly owns 719,826 shares in the company, valued at approximately $10,077,564. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Banc of California

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Banc of California by 144.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,071,139 shares of the bank’s stock valued at $14,385,000 after purchasing an additional 633,132 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Banc of California by 140.5% in the 4th quarter. Principal Financial Group Inc. now owns 681,794 shares of the bank’s stock worth $9,156,000 after acquiring an additional 398,333 shares during the last quarter. Hsbc Holdings PLC increased its stake in Banc of California by 447.5% during the fourth quarter. Hsbc Holdings PLC now owns 151,750 shares of the bank’s stock worth $2,052,000 after acquiring an additional 124,034 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Banc of California by 355.9% during the 4th quarter. Rafferty Asset Management LLC now owns 443,559 shares of the bank’s stock worth $5,957,000 after purchasing an additional 346,260 shares during the period. Finally, Carmignac Gestion purchased a new stake in shares of Banc of California in the 4th quarter valued at $2,152,000. 86.88% of the stock is owned by institutional investors.

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.