Banc of California
BANC

$15.05

2.15%

Market Cap: $2.54B

About: Banc of California Inc is a financial holding company. It offers banking and financial services. The company's services include banking services, lending services, and private banking services. Its deposit and banking product and service offerings include checking, savings, money market, certificates of deposit, and retirement accounts. Lending activities are focused on providing financing to California's diverse private businesses, entrepreneurs, and communities, and loans are often secured by California commercial and residential real estate. The company has one reportable segment named Commercial banking.

Employees: 2,304

Financials National Commercial Banks

0

Funds holding %

of 6,728 funds

0

Analysts bullish %

of 10 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

38% more call options, than puts

Call options by funds: $17.7M | Put options by funds: $12.8M

19% more repeat investments, than reductions

Existing positions increased: 99 | Existing positions reduced: 83

3.48% more ownership

Funds ownership: 95.66% [Q1] → 99.14% (+3.48%) [Q2]

4% less funds holding

Funds holding: 271 [Q1] → 261 (-10) [Q2]

12% less capital invested

Capital invested by funds: $2.28B [Q1] → $2B (-$282M) [Q2]

26% less first-time investments, than exits

New positions opened: 28 | Existing positions closed: 38

31% less funds holding in top 10

Funds holding in top 10: 16 [Q1] → 11 (-5) [Q2]

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Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$13

14%

downside

Avg. target

$14.80

2%

downside

High target

$17

13%

upside

10 analyst ratings

2 positive

20%

8 neutral

80%

0 negative

0%

Truist Securities Brandon King 79% 1-year accuracy 50 / 63 met price target	6%upside $16	Hold Maintained	20 Sept 2024
Raymond James Michael Rose 88% 1-year accuracy 37 / 42 met price target	6%upside $16	Outperform Upgraded	17 Sept 2024
Stephens & Co. Andrew Terrell 65% 1-year accuracy 11 / 17 met price target	7%downside $14	Equal-Weight Reiterated	4 Sept 2024
Stephens & Co. Andrew Terrell 65% 1-year accuracy 11 / 17 met price target	7%downside $14	Equal-Weight Maintained	24 Jul 2024
Wedbush David Chiaverini 60% 1-year accuracy 31 / 52 met price target	7%downside $14	Neutral Reiterated	24 Jul 2024

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Financial journalist opinion

Banc of California Expands Specialty Lending Team

LOS ANGELES--(BUSINESS WIRE)-- #Lending--Banc of California, a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), announced today that Chris Hague has joined the company as Executive Vice President and Head of Specialty Finance. In this role, Hague oversees the bank's teams in Lender Finance, Asset-Based Lending (ABL), and Corporate Asset Finance and Commercial Aviation (CAF). Hague is also a member of the bank's Senior Management Committee. Hague is based in Chicago and reports to Hamid Hu.

Banc of California Expands Specialty Lending Team

Banc of California, Inc. to Participate at the Barclays 22nd Annual Global Financial Services Conference

LOS ANGELES--(BUSINESS WIRE)-- #Banking--Banc of California, Inc. (the “Company”) (NYSE: BANC) announced today that Jared Wolff, President & Chief Executive Officer and Joseph Kauder, Chief Financial Officer, will meet with investors at the Barclays 22nd Annual Global Financial Services Conference in New York on September 9 – 11, 2024. In addition to meeting with investors, Mr. Wolff will participate in a fireside chat on September 10, 2024 at 11:15 a.m. Eastern Time. The live audio webcast and replay.

Banc of California, Inc. to Participate at the Barclays 22nd Annual Global Financial Services Conference

Banc of California, Inc. (BANC) Q2 2024 Earnings Call Transcript

Banc of California, Inc. (NYSE:BANC ) Q2 2024 Results Conference Call July 23, 2024 1:00 PM ET Company Participants Ann DeVries - Head of Investor Relations Jared Wolff - President and Chief Executive Officer Joe Kauder - Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Jared Shaw - Barclays David Feaster - Raymond James Chris McGratty - KBW Andrew Terrell - Stephens Brandon King - Truist Securities Gary Tenner - D.A. Davidson David Chiaverini - Wedbush Securities Tim Coffey - Janney Operator Good day, and welcome to the Banc of California Second Quarter of 2024 Earnings Conference Call.

Banc of California, Inc. (BANC) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Banc of California (BANC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

The headline numbers for Banc of California (BANC) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Banc of California (BANC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Zacks Investment Research

Banc of California (BANC) Misses Q2 Earnings and Revenue Estimates

Banc of California (BANC) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.32 per share a year ago.

Banc of California (BANC) Misses Q2 Earnings and Revenue Estimates

Banc of California, Inc. Reports Second Quarter 2024 Financial Results

LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. Reports Second Quarter 2024 Financial Results.

Banc of California, Inc. Reports Second Quarter 2024 Financial Results

Zacks Investment Research

Analysts Estimate Banc of California (BANC) to Report a Decline in Earnings: What to Look Out for

Banc of California (BANC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Banc of California (BANC) to Report a Decline in Earnings: What to Look Out for

Banc of California: Opportunity Amidst The Noise

Banc of California has been busy since closing the PacWest deal, including billions of dollars of balance sheet restructuring in Q1 that meaningfully reduces funding costs. I expect above-average growth in 2025 driven by balance sheet restructuring, NIM improvement, and cost synergies from the PacWest deal. Long-term core earnings growth should grow at 5-6%, driving a fair value above $15, and the shares also appear undervalued on ROTCE-driven P/TBV, with a potential fair value of $18.50-$20.

Banc of California: Opportunity Amidst The Noise

Banc of California Announces Schedule of Second Quarter 2024 Earnings Release and Conference Call

LOS ANGELES--(BUSINESS WIRE)--Banc of California Announces Schedule of Second Quarter 2024 Earnings release and Conference Call.

Banc of California Announces Schedule of Second Quarter 2024 Earnings Release and Conference Call

Banc of California: 0.75x Book Value, Soaring NII, 3.1% Dividend (Rating Upgrade)

Banc of California shares are undervalued, trading below book value, with potential for upside due to balance sheet restructuring and growth in the net interest margin. The lender's net interest margin increased to 2.66% in Q1'24, driven by a reduction in high cost wholesale funding. Despite risks to interest rates, Banc of California is a bargain and offers investors significant revaluation potential.

Banc of California: 0.75x Book Value, Soaring NII, 3.1% Dividend (Rating Upgrade)

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