Banc of California: A Regional Bank Gem Selling At 0.8X BV [Seeking Alpha]
Banc of California, Inc. (BANC)
Last banc of california, inc. earnings: 4/29 06:00 am
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US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4074352
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Source: Seeking Alpha
BANC has a well-performing core loan portfolio with a strong asset quality profile. The reduction of high-cost short-term borrowings is a NIM catalyst for the bank in FY 2024. Shares remain very attractively valued at 0.8X book value. Banc of California ( NYSE: BANC ) makes an attractive valuable position for bank investors as shares provide an attractive 3% dividend yield and the regional lender keeps selling for an attractive discount to its long term average P/B ratio. Banc of California owns a well-performing core loan portfolio with a very strong asset quality profile and the bank has upside revaluation potential related to an improvement in its net interest margin. With shares continuing to trade well below book value, I believe Banc of California is a promising bet on an upside revaluation in 2024. Previous rating I rated shares of Banc of California, in December 2023, a buy due to what I believed was a very sensible transaction regarding the assets of PacWest Bancor
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BANC
News
- Banc of California, Inc. (NYSE: BANC) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its "equal weight" rating re-affirmed by analysts at Stephens. They now have a $16.00 price target on the stock.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its price target lowered by analysts at Truist Financial Co. from $16.00 to $15.00. They now have a "hold" rating on the stock.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its price target lowered by analysts at Barclays PLC from $16.00 to $15.00. They now have an "equal weight" rating on the stock.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its price target lowered by analysts at Wedbush from $16.00 to $15.00. They now have a "neutral" rating on the stock.MarketBeat
BANC
Earnings
- 4/23/24 - Miss
BANC
Sec Filings
- 4/26/24 - Form 4
- 4/23/24 - Form 8-K
- 3/28/24 - Form ARS
- BANC's page on the SEC website