Banc of California (NYSE:BANC) Announces Earnings Results

Banc of California (NYSE:BANC) released its quarterly earnings results on Tuesday. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.10, FiscalAI reports. The firm had revenue of $303.07 million during the quarter, compared to the consensus estimate of $306.27 million. Banc of California had a positive return on equity of 7.98% and a negative net margin of 1.44%.

Banc of California Stock Up 1.5%

Shares of Banc of California stock traded up $0.27 on Tuesday, reaching $18.26. 3,191,329 shares of the company were exchanged, compared to its average volume of 2,833,578. Banc of California has a one year low of $16.12 and a one year high of $21.93. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -43.48 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $18.08 and a 200 day moving average of $18.99.

Banc of California Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.48 annualized dividend and a dividend yield of 2.6%. Banc of California’s payout ratio is -114.29%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BANC. UBS Group initiated coverage on shares of Banc of California in a report on Monday, September 14th. They issued a “neutral” rating and a $20.00 price objective on the stock. Citigroup reduced their target price on shares of Banc of California from $23.50 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Banc of California from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Barclays lifted their price target on shares of Banc of California from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. Finally, Piper Sandler cut their price target on shares of Banc of California from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Key Banc of California News

Here are the key news stories impacting Banc of California this week:

• Positive Sentiment: Solid third-quarter earnings growth: Banc of California reported $83.1 million in net earnings and diluted EPS of $0.46, up 21% from $0.38 a year earlier. Pre-tax, pre-provision income rose 16% to $118.4 million. A separate market report cited EPS of $0.55 versus the $0.45 consensus estimate, reflecting differences in earnings measures or reporting calculations. Banc of California Reports $0.46 Third Quarter Diluted EPS as Revenue Rises 6%
• Positive Sentiment: Revenue and balance-sheet expansion supported the outlook: Total revenue increased 6% year over year to approximately $303.8 million. Loans held for investment grew by $379.7 million to $24.6 billion, deposits rose to $28.3 billion, and the CET1 capital ratio improved to 9.70%, up 45 basis points sequentially. Banc of California Advances Earnings After Balance Sheet Shift
• Positive Sentiment: Private-banking expansion could create a new growth channel: The bank launched a private-banking arm targeting wealthy Los Angeles clients, potentially helping attract higher-value deposits, lending relationships and fee-generating business. Banc of California Launches Private Banking Arm
• Neutral Sentiment: Analyst commentary and pre-earnings previews focused on expectations for the quarterly report, with no major new rating change identified. What Are Researchers Saying About This Stock?
• Negative Sentiment: Revenue of roughly $303 million was slightly below the approximately $306 million analyst estimate. The reported net interest margin was 3.34%, and market data continues to show a negative net margin, leaving profitability sensitive to funding costs and credit conditions. Banc of California Stock and Earnings Data

Insider Activity at Banc of California

In related news, insider Olivia Lindsay sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.50, for a total value of $117,000.00. Following the completion of the transaction, the insider directly owned 32,842 shares of the company’s stock, valued at approximately $640,419. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ido Dotan sold 10,541 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $18.30, for a total transaction of $192,900.30. Following the transaction, the general counsel owned 45,702 shares in the company, valued at approximately $836,346.60. The trade was a 18.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.78% of the company’s stock.

Banc of California Company Profile

Banc of California, Inc is a bank holding company whose principal subsidiary, Banc of California, N.A., provides banking and financial services to businesses, professionals, nonprofit organizations and individuals. The bank operates as a full-service commercial bank, offering deposit accounts, commercial and consumer loans, home lending, treasury management, cash-management services and online and mobile banking.

The company primarily serves customers throughout California, with operations and relationships extending into select western markets.