Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits. It also provides various commercial and consumer loan products, such as commercial and industrial loans; commercial real estate and multifamily loans; construction loans; single family residential mortgage loans; warehouse and indirect/direct leveraged lending; home equity lines of credit; small business administration loans; and other consumer loans. In addition, the company offers automated bill payment, cash and treasury management, foreign exchange, card payment, remote and mobile deposit capture, automated clearing house origination, wire transfer, direct deposit, and internet banking services; and master demand accounts, interest rate swaps, and safe deposit boxes. Further, it invests in collateralized loan obligations, agency securities, municipal bonds, agency residential mortgage-backed securities, and corporate debt securities. As of December 31, 2020, the company operated 29 full-service branches in Southern California. The company was formerly known as First PacTrust Bancorp, Inc. and changed its name to Banc of California, Inc. in July 2013. Banc of California, Inc. was founded in 1941 and is headquartered in Santa Ana, California.
IPO Year:
Exchange: NYSE
Website: bancofcal.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/31/2024 | $17.00 → $18.00 | Equal Weight → Overweight | Barclays |
| 10/10/2024 | $15.00 | Neutral | Citigroup |
| 9/24/2024 | $14.00 → $18.00 | Neutral → Outperform | Wedbush |
| 9/17/2024 | $16.00 | Mkt Perform → Outperform | Raymond James |
| 3/22/2024 | $16.00 → $18.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 3/8/2024 | $16.00 | Equal Weight | Barclays |
| 12/4/2023 | $14.00 | Hold | Truist |
| 10/4/2023 | $21.00 → $13.50 | Overweight → Equal Weight | Wells Fargo |
| 7/31/2023 | $16.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 4/6/2022 | Outperform → Mkt Perform | Raymond James |
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Stephens & Co. analyst Andrew Terrell maintains Banc of California (NYSE:BANC) with a Equal-Weight and lowers the price target from $15 to $14.
Wedbush analyst David Chiaverini reiterates Banc of California (NYSE:BANC) with a Neutral and maintains $14 price target.
Barclays analyst Jared Shaw maintains Banc of California (NYSE:BANC) with a Equal-Weight and lowers the price target from $15 to $14.
8 analysts have expressed a variety of opinions on Banc of California (NYSE:BANC) over the past quarter, offering a diverse set of opinions from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 2 5 0 0 Last 30D 0 0 1 0 0 1M Ago 0 1 2 0 0 2M Ago 0 0 0 0 0 3M Ago 1 1 2 0 0 Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $15.94, with a high estimate of $19.00 and a low estimate of $13.00. A negative shift
Truist Securities analyst Brandon King maintains Banc of California (NYSE:BANC) with a Hold and raises the price target from $13 to $15.
Banc of California (NYSE:BANC) reported quarterly earnings of $0.12 per share which missed the analyst consensus estimate of $0.19 by 36.84 percent. This is a 62.5 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $259.28 million which beat the analyst consensus estimate of $240.12 million by 7.98 percent. This is a 272.36 percent increase over sales of $69.63 million the same period last year.
Keefe, Bruyette & Woods analyst Christopher Mcgratty maintains Banc of California (NYSE:BANC) with a Outperform and lowers the price target from $18 to $17.
Banc of California, Inc. (NYSE:BANC): $(0.01) Loss Per Share $0.25 Adjusted Earnings Per Share(1) $17.75 Book Value Per Share $15.63 Tangible Book Value Per Share(1) 10.45% CET1 Ratio 28% Average Noninterest-Bearing Deposits to Average Total Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California" or the "Company"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the third quarter ended September 30, 2024. The Company reported a net loss available to common and equivalent stockholders of $1.2 million, or a loss of $0.01 per diluted common share, for the third quarter of 2024. On an ad
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release 2024 third quarter financial results on Tuesday, October 22, 2024. The Company will host a conference call to discuss its third quarter results at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 6084667. A link to the live audio webcast and the slide presentation for the call will be available on the Company's investor relations website prior to the call. An audio archive of the conference call will be available on the Company's investor relations website within 24 hours after the end of the call
Bank continues to attract top talent and position itself for growth Banc of California, a wholly owned subsidiary of Banc of California, Inc. (NYSE:BANC), announced today that Ken McMullen has joined the company as Executive Vice President and Treasurer. He is a member of the Senior Management Committee and reports directly to Joe Kauder, Banc of California's Chief Financial Officer. McMullen oversees all aspects of the bank's corporate treasury function, including oversight of its corporate investment portfolio. His treasury responsibilities include supervision of the bank's balance sheet, development of funding and capital strategies, and management of interest rate risk and liquidity.
Chris Hague joins Banc of California as Executive Vice President and Head of Specialty Finance Team includes five others to expand lender finance and additional areas 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 Hussain, President of the bank. Hague is an industry leader
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 of the fireside chat will be available on Banc of California's investor relations website at https://investors.bancofcal.com. About Banc of California, Inc. Banc of California, Inc. (NYSE:BANC) is a bank holding company with ove
Banc of California, Inc. (the "Company") (NYSE:BANC) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable October 1, 2024, to stockholders of record as of September 16, 2024. The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F. The dividend will be payable September 3, 2024, to stockholders of record as of August 22, 2024. The Series F depositary shares are traded on the New York Stock Exchange under the "Banc/PF" symbol. The Company maintains a Dividend Reinvestmen
Banc of California, Inc. (NYSE:BANC): $0.12 Earnings Per Share $17.23 Book Value Per Share $15.07 Tangible Book Value Per Share(1) 10.27% CET1 Ratio 27% Noninterest-Bearing Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the second quarter ended June 30, 2024. The Company recorded net earnings available to common and equivalent stockholders of $20.4 million, or $0.12 per diluted common share, for the second quarter of 2024. This compares to net earnings available to common and equivalent stockholders of $20.9 million,
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release 2024 second quarter financial results on Tuesday, July 23, 2024. The Company will host a conference call to discuss its second quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 3283432. A live audio webcast will also be available on the Webcasts page of the Company's investor relations website. The slide presentation for the call will also be available on the Company's investor relations website prior to the call. An audio archive of the conference call will be available on the
Banc of California is dedicated to serving entrepreneurs as they grow their companies Banc of California, a wholly owned subsidiary of Banc of California Inc. (NYSE:BANC), announced today the launch of Build@Banc, a service dedicated to providing tailored banking solutions to seed and early-stage innovative startups. The Build@Banc team also provides guidance and resources to help founders choose the right banking solutions and offers introductions to its well-established network of investors and advisers. "We want companies to start with us, stay with us and grow with us — from inception to IPO and beyond," said Sean Lynden, President of the Venture Banking Group at Banc of California.
Banc of California, Inc. (the "Company") (NYSE:BANC) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable July 1, 2024, to stockholders of record as of June 14, 2024. The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F. The dividend will be payable June 3, 2024, to stockholders of record as of May 23, 2024. The Series F depositary shares are traded on the New York Stock Exchange under the "Banc/PF" symbol. The Company maintains a Dividend Reinvestment Plan (DRIP) wh
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Barclays upgraded Banc of California from Equal Weight to Overweight and set a new price target of $18.00 from $17.00 previously
Citigroup initiated coverage of Banc of California with a rating of Neutral and set a new price target of $15.00
Wedbush upgraded Banc of California from Neutral to Outperform and set a new price target of $18.00 from $14.00 previously
Raymond James upgraded Banc of California from Mkt Perform to Outperform and set a new price target of $16.00
Keefe Bruyette upgraded Banc of California from Mkt Perform to Outperform and set a new price target of $18.00 from $16.00 previously
Barclays initiated coverage of Banc of California with a rating of Equal Weight and set a new price target of $16.00
Truist initiated coverage of Banc of California with a rating of Hold and set a new price target of $14.00
Wells Fargo downgraded Banc of California from Overweight to Equal Weight and set a new price target of $13.50 from $21.00 previously
Keefe Bruyette downgraded Banc of California from Outperform to Mkt Perform and set a new price target of $16.00
Raymond James downgraded Banc of California from Outperform to Mkt Perform
Banc of California, Inc. (NYSE:BANC): $(0.01) Loss Per Share $0.25 Adjusted Earnings Per Share(1) $17.75 Book Value Per Share $15.63 Tangible Book Value Per Share(1) 10.45% CET1 Ratio 28% Average Noninterest-Bearing Deposits to Average Total Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California" or the "Company"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the third quarter ended September 30, 2024. The Company reported a net loss available to common and equivalent stockholders of $1.2 million, or a loss of $0.01 per diluted common share, for the third quarter of 2024. On an ad
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release 2024 third quarter financial results on Tuesday, October 22, 2024. The Company will host a conference call to discuss its third quarter results at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 6084667. A link to the live audio webcast and the slide presentation for the call will be available on the Company's investor relations website prior to the call. An audio archive of the conference call will be available on the Company's investor relations website within 24 hours after the end of the call
Banc of California, Inc. (NYSE:BANC): $0.12 Earnings Per Share $17.23 Book Value Per Share $15.07 Tangible Book Value Per Share(1) 10.27% CET1 Ratio 27% Noninterest-Bearing Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the second quarter ended June 30, 2024. The Company recorded net earnings available to common and equivalent stockholders of $20.4 million, or $0.12 per diluted common share, for the second quarter of 2024. This compares to net earnings available to common and equivalent stockholders of $20.9 million,
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release 2024 second quarter financial results on Tuesday, July 23, 2024. The Company will host a conference call to discuss its second quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 3283432. A live audio webcast will also be available on the Webcasts page of the Company's investor relations website. The slide presentation for the call will also be available on the Company's investor relations website prior to the call. An audio archive of the conference call will be available on the
Banc of California, Inc. (NYSE:BANC): $0.17 Earnings Per Share $0.19 Adjusted Earnings Per Share(1) $17.18 Book Value Per Share $15.07 Tangible Book Value Per Share(1) 10.12% CET1 Ratio 27% Noninterest-Bearing Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the first quarter ended March 31, 2024. The Company recorded net earnings available to common and equivalent stockholders of $28.2 million, or $0.17 per diluted common share, for the first quarter of 2024. On an adjusted basis, excluding the FDIC special assessment
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release 2024 first quarter financial results on Tuesday, April 23, 2024. The Company will host a conference call to discuss its first quarter earnings at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 1537279. A live audio webcast will also be available on the Webcasts page of the Company's investor relations website. The slide presentation for the call will also be available on the Company's investor relations website prior to the call. An audio archive of the conference call will be available on the
Banc of California, Inc. (NYSE:BANC): $38.5B Total Assets $17.12 Book Value Per Share $14.96 Tangible Book Value Per Share(1) 10.12% CET1 Ratio 26% Noninterest-Bearing Deposits Banc of California, Inc. (NYSE:BANC) ("Banc of California"), parent of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the fourth quarter and year ended December 31, 2023. On November 30, 2023, Banc of California and PacWest Bancorp closed their transformational merger, creating California's premier business bank. As of December 31, 2023, Banc of California had total assets of $38.5 billion. "Following the merger with PacWest, we have
Banc of California, Inc. (the "Company") (NYSE:BANC) today announced it will release financial results for the fourth quarter and fiscal year ended December 31, 2023 on Thursday, January 25, 2024. The Company will host a conference call to discuss these financial results at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 4864870. A live audio webcast will also be available on the Webcasts page of the Company's investor relations website. The slide presentation for the call will also be available on the Company's investor relations website prior to the call. An audio archive of t
Combined bank emerges as the third-largest bank headquartered in California and one of the nation's premier relationship-focused business banks Banc of California, Inc. ("Banc of California") (NYSE:BANC) today announced the completion of its transformational merger with PacWest Bancorp ("PacWest") (NASDAQ:PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A. will have merged into Pacific Western Bank (the "combined bank"). The combined bank will operate under the Banc of California name and brand. Concurrent with the completion of the merger, Banc of California also completed its $400 million equity raise from affiliates
Merger proposal receives in excess of 98% approval of the shares voted from each of Banc of California and PacWest Bancorp stockholders Banc of California, Inc. ("Banc of California") (NYSE:BANC) and PacWest Bancorp ("PacWest") (NASDAQ:PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be set forth in the companies' separate Current Reports on Form 8-K to be filed with the U.S. Securities and Exchange
Chris Hague joins Banc of California as Executive Vice President and Head of Specialty Finance Team includes five others to expand lender finance and additional areas 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 Hussain, President of the bank. Hague is an industry leader
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: Carlyle Group Inc. (NASD: CG) will replace ICU Medical Inc. (NASD: ICUI) in the S&P MidCap 400. ICU Medical will replace PacWest Bancorp (NASD: PACW) in the S&P SmallCap 600. Banc of California Inc. (NYSE:BANC) is acquiring PacWest Bancorp in a deal expected to be completed soon, pending final closing conditions. Post-merger, Banc of California will remain in the S&P SmallCap 600. ICU Medical is more representative of the small-cap market space.WP Carey Inc. (NYSE: WPC) will replace Worthingt
Banc of California, Inc. (NYSE:BANC) (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), today announced the appointment of Joseph Kauder as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective July 10, 2023. Mr. Kauder succeeds Executive Vice President and CFO Lynn Hopkins, who stepped down from the Company effective March 31, 2023. Raymond Rindone, the Company's Deputy CFO and Chief Accounting Officer, will continue to serve as interim Chief Financial Officer until Mr. Kauder joins the Company. "I am thrilled to have Joe join our executive leadership team," said Jared Wolff, Chairman, President & CEO of Banc of Califor
Banc of California, Inc. (NYSE:BANC) (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), today announced the appointment of Raymond Rindone as Chief Accounting Officer and Deputy Chief Financial Officer of the Company and the Bank, effective Monday, November 14, 2022. Mr. Rindone succeeds Diana Hanson who has transitioned to become SVP, Corporate Controller of the Company and the Bank. Mr. Rindone will report to Lynn Hopkins, Executive Vice President and CFO. Mr. Rindone joins most recently from City National Bank, where he was Deputy Chief Financial Officer. "We are excited to welcome Ray to Banc of California," said Jared Wolff, the Company's President and CEO
Acquisition creates a business banking franchise in Southern California with over $9 billion in assets Three new independent directors appointed to the Board of Directors Banc of California, Inc. (NYSE:BANC) (the "Company" or "Banc of California"), the holding company of Banc of California, N.A. (the "Bank"), announced today the completion of its acquisition of Pacific Mercantile Bancorp (NASDAQ:PMBC) ("Pacific Mercantile") effective as of October 18, 2021. Following the acquisition, Banc of California will have over $9 billion in total assets. The Company announces third quarter earnings on October 21, 2021. Jared Wolff, President & CEO of Banc of California, stated, "The Pacific
Banc of California, Inc. (NYSE:BANC) (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), today announced the appointment of Diana Hanson as Senior Vice President and Chief Accounting Officer of the Company and the Bank, effective Monday, August 16, 2021. Ms. Hanson succeeds Mike Smith, who resigned from the Company effective August 6, 2021. She will be based in Santa Ana and report to Lynn Hopkins, Executive Vice President and CFO. "We are excited to welcome Diana to Banc of California," said Ms. Hopkins. "Diana is a very talented leader and well-respected finance professional in the community banking industry in Southern California. Having worked together for m
Banc of California, Inc. (NYSE:BANC) (the "Company"), the holding company for Banc of California, N.A. (the "Bank"), today announced the appointment of Alex Kweskin as Executive Vice President and Chief Human Resources Officer of the Company and the Bank, effective Monday, May 3, 2021. Mr. Kweskin will be based in Santa Ana and report to Jared Wolff, President and CEO. Mr. Kweskin joins the Company from MUFG Union Bank, N.A., a division of Mitsubishi UFJ Financial Group (NYSE:MUFG), with assets of $132 billion, where he has worked since 2011. Since 2014, Mr. Kweskin has served as Managing Director, and Head of Human Resources for Union Bank. He also held previous human resources roles at W