Banc of California, Inc. (BANC)
| Market Cap | 728.39M |
| Revenue (ttm) | 346.45M |
| Net Income (ttm) | 102.25M |
| Shares Out | 57.44M |
| EPS (ttm) | 1.75 |
| PE Ratio | 7.11 |
| Forward PE | 10.75 |
| Dividend | $0.40 (3.22%) |
| Ex-Dividend Date | Dec 14, 2023 |
| Volume | 4,858,487 |
| Open | 12.51 |
| Previous Close | 12.68 |
| Day's Range | 12.41 - 12.92 |
| 52-Week Range | 9.72 - 18.26 |
| Beta | 1.43 |
| Analysts | Buy |
| Price Target | 15.13 (+21.62%) |
| Earnings Date | Jan 18, 2024 |
About BANC
Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking and financial products and services in the United States. The company offers deposit products, including interest-bearing and noninterest-bearing demand, checking, savings, and money market deposits accounts; certificate of deposits; and retirement accounts and safe deposit boxes. It also provides various commercial and consumer loan products, such as commercial and industrial loans; commercial real estate and multifa... [Read more]
Financial Performance
In 2022, BANC's revenue was $363.26 million, an increase of 36.41% compared to the previous year's $266.30 million. Earnings were $115.77 million, an increase of 128.97%.
Financial StatementsAnalyst Forecast
According to 4 analysts, the average rating for BANC stock is "Buy." The 12-month stock price forecast is $15.13, which is an increase of 21.62% from the latest price.
News
Banc of California Designates Los Angeles as Headquarters and Donates $1 Million to Expand Financing Options for Small Businesses
LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) has designated Los Angeles as its new headquarters and has contributed $1 million to help small businesses thrive, CEO Jared Wolff a...
Press Conference with Los Angeles Mayor Karen Bass and Banc of California on Dec. 5
LOS ANGELES--(BUSINESS WIRE)--Members of the media are invited to a press conference with Los Angeles Mayor Karen Bass, Banc of California CEO Jared Wolff, and other local leaders on Tuesday, Dec. 5. ...
Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise
LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the completion of its transformational merger with PacWest Bancorp (“PacWest”) (Nasdaq: PACW)...
Carlyle Group and WP Carey Set to Join S&P MidCap 400; Others to Join S&P SmallCap 600
NEW YORK, Nov. 27, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Thursday, November 30...
Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger
SANTA ANA, Calif. & LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today jointly announced that, at their res...
Banc of California Announces Quarterly Dividend
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC), today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share on its outstanding comm...
Banc of California Announces Appointments of Four Directors to its Board of Directors in Connection with its Merger with PacWest Bancorp
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the appointments of Todd Schell, a principal of Warburg Pincus LLC, and John M. Eggemey...
PACWEST BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of PacWest Bancorp - PACW
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of PacWest Bancorp ...
Banc of California Reports Net Income of $42.6 million, with Stable Deposit Mix and Improved Net Interest Margin in Third Quarter 2023 Financial Results
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (“Banc of California”) today reported net income of $42.6 million, or $0.74 per diluted common share, for the third quarter of...
Banc of California Receives Final Regulatory Approval for its Merger with PacWest Bancorp
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced that the Board of Governors of the Feder...
Banc of California Announces Schedule of Third Quarter 2023 Earnings Release and Conference Call
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) today announced it will release 2023 third quarter financial results before the stock market opens on Tuesday, October 24, 202...
Wells Fargo downgrades four regional banks and highlights four top names in analyst shift
Wells Fargo analyst Timur Braziler downgraded four U.S. regional banks Wednesday, sharing his four top picks as he assumed coverage of the sector.
Banc of California crafts $4.1B community lending program as it merges with PacWest
Banc of California Inc. BANC, -2.58% said Tuesday it will run a $4.1 billion, three-year community lending program with Rise Economy, which was formerly called California Reinvestment Coalition (CRC)....
Banc of California and Rise Economy Announce $4.1 Billion Community Benefits Plan
SANTA ANA, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--Banc of California, N.A. (“Banc of California”), a wholly-owned subsidiary of Banc of California, Inc. (NYSE: BANC) and Rise Economy announced today...
Shareholder Alert: Robbins LLP Informs Shareholders of Class Action Filed Against PacWest Bancorp (PACW)
SAN DIEGO--(BUSINESS WIRE)---- $BANC #BancofCalifornia--PacWest Bancorp (PACW) Misled Investors Regarding the Impact of Interest Rate Hikes on Pacific Western Bank.
Banc of California Names Debora Vrana as Executive Vice President & Chief Communications Officer
SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) (the “Company”) announced today that Debora Vrana has joined its wholly owned subsidiary, Banc of California, N.A. (the “Bank”...
Buyer of PacWest commercial real estate expects to double its $7 billion loan portfolio as rate shocks fuel more banking stress
A raft of credit rating actions against more than two dozen U.S. banks by Moody's Investors Service late Monday didn't shock one buyer of distressed commercial real estate.
10 regional banks expected to buck a weak industry trend
Bank stocks took a pounding on Tuesday, after Moody's downgraded its credit ratings for several smaller regional banks and put six larger players on review for possible downgrades. Below is a screen o...
PacWest draws upgrade to buy from neutral after Banc of California deal
D.A. Davidson on Monday upgraded PacWest Bancorp PACW, -1.90% to buy from neutral to bring it up to the same rating as upcoming acquirer, Banc of California BANC, -2.49%, as announced last week. “We t...
KBRA Affirms Ratings for Banc of California, Inc. and Maintains Watch Developing Status for PacWest Bancorp
NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Banc of California, Inc. (NYSE: ...
Banc of California is expected to keep leading regional banks higher as PacWest deal ignites sector
Banc of California Inc.'s proposed agreement to acquire PacWest Bancorp. helped send regional-bank stocks considerably higher on Wednesday.
PacWest Shares Soar After Merger with Rival Banc of California
Imperiled bank PacWest shares soared in early trade on Wednesday after news of its merger with smaller rival Banc of California in a $1.1 billion all-stock deal.
BANC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Banc of California, Inc. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Banc of California, Inc. (NYSE: BANC) and PacWest Bancorp is fair to Banc of California...
PacWest's sale to Banc of California ‘provides closure' and is a win for shareholders: analyst
PacWest Bancorp's stock held on to big gains on Wednesday after it announced it has agreed to be acquired in an all-stock deal by Banc of California Inc. Analysts mostly praised the transaction.
California Banks Merge to Get Smaller
The merger of PacWest and Banc of California will actually help shrink the assets of the combined lenders.