Wells Fargo raised the firm’s price target on Banc of California (BANC) to $18 from $16 and keeps an Overweight rating on the shares. The firm highlights the important stretch coming up for Banc of California as it looks for balance sheet moves in Q2 to drive improving EPS trends through 2026. Optionality is aplenty for shareholders, including untapped scarcity value, but EPS needs to improve first, adds Wells.
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