BANC OF CALIFORNIA, INC.
In the published model solve dated 2026-Q2, anchored at $19.18, BANC OF CALIFORNIA, INC. (BANC) is priced for 10.8% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• The cost side has come back to earth since the PacWest combination: the efficiency ratio, the share of revenue eaten by running the bank, ran 125.11 percent in 2023, then 72.66 percent in 2024, then 63.20 percent in 2025, with noninterest expense down to $735.9 million from $791.7 million. • The gap that decides the investment case is on returns rather than costs, because the bank recently earned about 6.2 percent on its equity while the price, at roughly 1.1 times book, assumes it settles nea
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307 institutional managers reported holding BANC in 13F filings for the quarter ended 2026-03-31. Together they hold about 94% of the company; the top 10 hold 52%. 53 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 9.0M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (3.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
It pays a dividend, and has paid one every year in our records (16 and counting); the current rate is $0.40 a share annually. Cash returned over the past three years: $174.21M in dividends and $32.28M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at BANC over the trailing three years: 2023: 2 buys totaling $250k; 2024: 5 buys totaling $770k; 2025: 1 buy totaling $132k; 2026: 1 buy totaling $296k. 38 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BANC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2021-11-09 | +4.9% | -2.4% |
| 2022-05-10 | -2.0% | +1.7% |
| 2022-08-09 | -6.0% | -5.5% |
| 2022-11-08 | -8.1% | +3.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BANC's latest 8-K filings: 2026-07-29 (items 2.02, 7.01, 9.01); 2026-05-08 (items 5.07); 2026-04-22 (items 2.02, 7.01, 9.01); 2026-03-06 (items 8.01, 9.01); 2026-02-06 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.