Jefferies has begun coverage on Banc of California (BANC, Financial), awarding it a Buy rating and setting a price target of $18. The financial firm holds a positive outlook on 32 regional and mid-cap banks, citing factors that could benefit these institutions. These include potential loan growth recovery as the U.S. economy sidesteps a recession, improvements in net interest margins from a steeper yield curve, and robust credit metrics. Additionally, banks have excess capital to either take advantage of opportunities or safeguard against risks, alongside favorable valuations, according to the analysis.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Banc of California Inc (BANC, Financial) is $17.22 with a high estimate of $20.00 and a low estimate of $15.00. The average target implies an upside of 20.35% from the current price of $14.31. More detailed estimate data can be found on the Banc of California Inc (BANC) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Banc of California Inc's (BANC, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Banc of California Inc (BANC, Financial) in one year is $19.46, suggesting a upside of 35.99% from the current price of $14.31. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Banc of California Inc (BANC) Summary page.
