Fintel reports that on January 6, 2025, Wells Fargo upgraded their outlook for Banc of California (NYSE:BANC) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 20.49% Upside
As of December 23, 2024, the average one-year price target for Banc of California is $19.07/share. The forecasts range from a low of $17.17 to a high of $21.00. The average price target represents an increase of 20.49% from its latest reported closing price of $15.83 / share.
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The projected annual revenue for Banc of California is 375MM, a decrease of 9.14%. The projected annual non-GAAP EPS is 1.98.
What is the Fund Sentiment?
There are 561 funds or institutions reporting positions in Banc of California. This is an increase of 15 owner(s) or 2.75% in the last quarter. Average portfolio weight of all funds dedicated to BANC is 0.28%, an increase of 3.95%. Total shares owned by institutions decreased in the last three months by 0.40% to 190,930K shares. 
The put/call ratio of BANC is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
Warburg Pincus holds 15,593K shares representing 9.85% ownership of the company. No change in the last quarter.
T. Rowe Price Investment Management holds 10,269K shares representing 6.49% ownership of the company. In its prior filing, the firm reported owning 8,897K shares , representing an increase of 13.36%. The firm increased its portfolio allocation in BANC by 27.11% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 8,751K shares representing 5.53% ownership of the company. In its prior filing, the firm reported owning 8,977K shares , representing a decrease of 2.58%. The firm increased its portfolio allocation in BANC by 0.83% over the last quarter.
Centerbridge Partners holds 6,098K shares representing 3.85% ownership of the company. No change in the last quarter.
American Century Companies holds 4,451K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 3,222K shares , representing an increase of 27.60%. The firm increased its portfolio allocation in BANC by 51.12% over the last quarter.
Banc of California Background Information
(This description is provided by the company.)
Banc of California, Inc. is a bank holding company with approximately $7.9 billion in assets and one wholly-owned banking subsidiary, Banc of California, N.A. (the 'Bank'). The Bank has 36 offices including 29 full-service branches located throughout Southern California. Through its dedicated professionals, the bank provides customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California. The company helps to improve the communities where it operates, by supporting organizations that provide financial literacy and job training, small business support and affordable housing. With a commitment to service and to building enduring relationships, the bank provides a higher standard of banking.
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