JP Morgan Reiterates Buy Rating on Banc of California
JP Morgan maintains its buy rating on Banc of California with a $24 target, a 17.47% upside from the current price.
Key Points
- JP Morgan reiterated its buy rating on Banc of California, Inc. (NYSE:BANC) with a price target of $24, as of July 1, 2026.
- JP Morgan's $24 price target implies 17.47% upside from Banc of California, Inc.'s ($BANC) current $20.43 share price.
- Shares of Banc of California traded at $20.43 on Wednesday, with a market cap of approximately $3.15 billion and a P/E ratio of 15.7.
- Insiders and institutional investors have been actively trading Banc of California, with significant holdings and transactions disclosed.
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JP Morgan has reiterated its buy rating on Banc of California, Inc. (NYSE:BANC), maintaining a price target of $24. This update from analyst Anthony Elian was made on July 1, 2026. The rating signals continued confidence in the regional bank's performance.
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Banc of California, Inc. Stock Up 9.8%
Shares of NYSE:BANC traded near $20.43 on Wednesday. Banc of California has a market capitalization of about $3.15 billion, with a P/E ratio of 15.7. The stock has experienced a 52-week range from $13.96 to $21.61, with a 50-day moving average of $19.21 and a 200-day moving average of $18.53.
$BANC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
For its most recent fiscal period, Banc of California reported revenue of approximately $1.07 billion, reflecting a growth rate of 8%. The company achieved a net margin of 23.1% and a return on equity of 6.99%. The next earnings report is expected on July 22, 2026.
Dividend
Banc of California offers an annual dividend rate of $0.48 per share, yielding about 2.35%. The dividend payout ratio stands at 32.31%.
Insider Buying and Selling at Banc of California, Inc.
Recent insider activity at Banc of California saw Chief Credit Officer Bryan Corsini selling 14,988 shares at an average price of $19.06 on May 26, 2026. Earlier in May, he sold 9,677 shares at $19.04. On May 6, 2026, several insiders, including Vania Schlogel and Paul Robert Burke, purchased 4,780 shares each.
Analysts Set New Price Targets
On July 1, 2026, JP Morgan maintained its buy rating with a $24 price target. Other analysts have echoed similar sentiments, with firms like DA Davidson and Piper Sandler also maintaining buy ratings and setting targets of $24 and $23, respectively. The consensus among 11 analysts is a buy rating, with a mean target price of $22.86.
About Banc of California
Banc of California, Inc., based in Los Angeles, operates as a bank holding company for Banc of California. It offers a range of banking and treasury management services, including deposit products, real estate and commercial loans, and electronic payment services. The bank caters to small and middle-market businesses, venture capital firms, and high-net-worth individuals, with branches across California and offices in Denver and Durham.
Bottom Line
JP Morgan's reiteration of a buy rating for Banc of California suggests confidence in the bank's future prospects. Investors keep a close eye on analyst ratings as they provide insight into potential stock performance. However, it's important to remember that these ratings are based on past data and may not represent future outcomes.
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