On Oct 23, major Wall Street analysts update their ratings for $Banc of California (BANC.US)$, with price targets ranging from $17 to $19.
Barclays analyst Jared Shaw maintains with a hold rating, and adjusts the target price from $16 to $17.
Wells Fargo analyst Timur Braziler maintains with a hold rating, and adjusts the target price from $16 to $17.
Wedbush analyst David Chiaverini maintains with a buy rating, and adjusts the target price from $18 to $19.
Janney Montgomery analyst Timothy Coffey initiates coverage with a buy rating, and sets the target price at $18.
Furthermore, according to the comprehensive report, the opinions of $Banc of California (BANC.US)$'s main analysts recently are as follows:
Following the Q3 report, there is an anticipation of an increase in the net interest margin for Banc of California in Q4, influenced by securities repositioning and funding remix. Additionally, existing projections for Q4 and long-term profitability targets have been reaffirmed.
Banc of California delivered a strong quarterly performance and has enhanced its short-term net interest margin outlook, concurrently maintaining stable expense forecasts.
Management completed a significant portion of the restructuring efforts related to the PACW transaction ahead of schedule, which contributed to the rise in share value. There remains work to be done to enhance the profitability outlook, but clarity around earnings per share is expected to improve as time progresses.
Here are the latest investment ratings and price targets for $Banc of California (BANC.US)$ from 4 analysts:
Note:
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