Wells Fargo analyst Timur Braziler raised the firm’s price target on Banc of California (BANC) to $17 from $16 and keeps an Equal Weight rating on the shares. Management was able to complete much of the restructuring legwork tied to the PACW deal a quarter early, sending shares higher, the firm notes. There’s still wood to chop in improving the profitability profile, but EPS clarity should improve going forward, Wells adds.
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Read More on BANC:
- Banc of California price target raised to $17 from $16 at Barclays
- Banc of California Strategic Repositioning in Q3 2024
- Banc of California reports Q3 adjusted EPS 25c, consensus 10c
- Banc of California reports Q3 net interest margin of 2.93%, up 13 bps vs. Q2
- BANC Upcoming Earnings Report: What to Expect?
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