Banc of California price target raised to $20 from $18 at Wells Fargo

Wells Fargo raised the firm’s price target on Banc of California (BANC) to $20 from $18 and keeps an Overweight rating on the shares. The firm remains constructive on regional banks, and favors banks where improving fundamentals could drive valuation re-rating higher in the second half of 2025, especially those that also benefit from increased M&A activity.