Barclays upgraded Banc of California to Overweight from Equal Weight with a price target of $18, up from $17. Fundamentals are improving on “several fronts” for the mid-cap banks as 2025 net interest margin looks better than expected, loan production remains strong, and credit continues to outperform, the analyst tells investors in a research note. The firm reshuffled ratings in the group. Banc of California (BANC) and Valley National (VLY) have made good progress on turning around their balance sheets and had relatively clean Q3 results, contends Barclays. On the other hand, the firm sees little strategic change occurring at First Interstate (FIBK) in the near-term and notes the bank’s credit results have lagged peers in recent years.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BANC:
- Banc of California upgraded to Overweight from Equal Weight at Barclays
- Banc of California price target raised to $16 from $15 at Stephens
- Banc of California price target raised to $17 from $16 at Raymond James
- Banc of California price target raised to $19 from $18 at Wedbush
- Banc of California price target raised to $17 from $16 at Wells Fargo