Wells Fargo Updates Its Call on Banc of California Inc (BANC) Stock Ahead of Q2 Report

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.

Wells Fargo Updates Its Call on Banc of California Inc (BANC) Stock Ahead of Q2 Report

Iakov Filimonov/Shutterstock.com

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.

While we acknowledge the risk and potential of BANC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BANC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1