Banc of California upgraded to Strong Buy from Outperform at Raymond James

Raymond James analyst David Feaster upgraded Banc of California (BANC) to Strong Buy from Outperform with a price target of $20, up from $18. Solid core loan growth and favorable core deposit trends, combined with continued remixing and repricing of both assets and liabilities, sets the stage for meaningful net interest margin expansion over the next 18 months, the analyst tells investors in a research note.