DA Davidson Expects Reduced Earnings for Banc of California

Banc of California, Inc. (NYSE:BANC - Free Report) - Stock analysts at DA Davidson lowered their Q2 2025 earnings estimates for Banc of California in a research report issued on Friday, June 27th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.29. The consensus estimate for Banc of California's current full-year earnings is $1.31 per share. DA Davidson also issued estimates for Banc of California's FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.67 EPS.

Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Banc of California had a net margin of 8.23% and a return on equity of 6.30%. The business had revenue of $266.01 million during the quarter, compared to analyst estimates of $272.36 million. During the same quarter last year, the firm posted $0.19 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year.

Several other research analysts have also commented on BANC. Barclays lowered their price objective on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Stephens reiterated an "equal weight" rating and issued a $15.00 price target on shares of Banc of California in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of Banc of California from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Robert W. Baird decreased their price target on shares of Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Banc of California currently has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Banc of California Trading Down 0.1%

NYSE BANC opened at $14.09 on Monday. The firm has a 50 day simple moving average of $13.83 and a 200-day simple moving average of $14.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90. Banc of California has a one year low of $11.52 and a one year high of $18.08. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 21.68 and a beta of 0.67.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.84%. Banc of California's dividend payout ratio is presently 61.54%.

Insider Transactions at Banc of California

In related news, Director James Andrew Barker acquired 10,000 shares of Banc of California stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average price of $13.16 per share, for a total transaction of $131,600.00. Following the transaction, the director now owns 169,680 shares of the company's stock, valued at $2,232,988.80. This represents a 6.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Olivia I. Lindsay sold 11,000 shares of Banc of California stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.58, for a total transaction of $149,380.00. Following the completion of the transaction, the insider now directly owns 30,902 shares in the company, valued at $419,649.16. The trade was a 26.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,000 shares of company stock worth $1,208,000. 2.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Banc of California

A number of institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of Banc of California by 18.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,942,131 shares of the bank's stock valued at $183,649,000 after acquiring an additional 2,029,119 shares during the period. Vanguard Group Inc. increased its holdings in shares of Banc of California by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,575,301 shares of the bank's stock valued at $135,874,000 after acquiring an additional 50,452 shares during the period. Wellington Management Group LLP increased its holdings in shares of Banc of California by 16.5% in the 1st quarter. Wellington Management Group LLP now owns 6,280,573 shares of the bank's stock valued at $89,121,000 after acquiring an additional 887,497 shares during the period. Centerbridge Partners L.P. increased its holdings in shares of Banc of California by 18.7% in the 1st quarter. Centerbridge Partners L.P. now owns 4,771,784 shares of the bank's stock valued at $67,712,000 after acquiring an additional 752,239 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Banc of California by 127.4% in the 1st quarter. Invesco Ltd. now owns 4,453,245 shares of the bank's stock valued at $63,192,000 after acquiring an additional 2,495,043 shares during the period. 86.88% of the stock is owned by institutional investors and hedge funds.

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.

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