Timur Braziler, an analyst from Wells Fargo, maintained the Buy rating on Banc of California. The associated price target was raised to $18.00.
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Timur Braziler has given his Buy rating due to a combination of factors including expected improvements in Banc of California’s earnings per share (EPS) and strategic balance sheet adjustments. The transfer of $507 million in construction and commercial real estate loans to held-for-sale status is anticipated to normalize credit conditions starting in the third quarter, paving the way for EPS growth through 2026.
Additionally, while the net interest income (NII) and net interest margin (NIM) missed consensus estimates, the funding mix is expected to improve, which should accelerate NII growth into the third quarter. The company’s proactive expense management and capital strategies, such as share repurchases, further support a positive outlook. These factors collectively contribute to Braziler’s optimistic assessment of Banc of California’s stock potential.
In another report released on July 25, D.A. Davidson also maintained a Buy rating on the stock with a $19.00 price target.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BANC in relation to earlier this year.