Wells Fargo Updates Its Call on Banc of California Inc (BANC) Stock Ahead of Q2 Report
Wells Fargo Updates Its Call on Banc of California Inc (BANC) Stock Ahead of Q2 Report.
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Banc of California Inc (NYSE: BANC ) is one of the top bank stocks to buy now according to analysts . The stock has gained more than 38% over the past year, and it still has upside potential. The Street has a consensus Strong Buy rating on this regional bank stock, and some 40 hedge funds are backing the stock.
On July 6, Wells Fargo raised its price target on Banc of California Inc (NYSE:BANC) shares to $23 from $22 while maintaining an Overweight rating on the stock ahead of Q2 results. The brokerage believes Banc of California will continue to deliver solid results and extend its outperformance track record for the third straight year.
In Q1, Banc of California's revenue increased 8% YoY and net interest margin expanded 4 basis points. The bank continued to show capital flexibility, extending its $300 million share repurchase program to March 2027 and outlining plans to redeem $385 million in debt.
Wells Fargo sees a bright spot for Banc of California and other regional banks in the commercial and industrial loans market. In Q1, commercial and industrial loans increased 12.7% quarter-over-quarter, according to Fed data. That followed a 4.3% growth in all of 2025 compared to the prior year.
Banc of California Inc (NYSE:BANC) is a regional business bank with footprints in California, Colorado, and North Carolina. It provides commercial loans, payment processing, and treasury management for small and middle-market businesses.
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READ NEXT: Top 10 Stocks to Buy According to Whale Rock Capital Management and 10 Best Stocks to Buy According to David Greenspan's Slate Path Capital .
Sinergia Empresarial continuará el seguimiento de esta información sobre wells Fargo Updates Its Call on Banc of California Inc (BANC) Stock Ahead of Q2 Report y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
