Banc of California price target raised to $15 from $13 at Truist

Truist raised the firm’s price target on Banc of California to $15 from $13 and keeps a Hold rating on the shares as part of a broader research note recapping Q2 earnings for Regional and Community banks. The company’s Q4 net interest margin guide of 2.90%-3.00% is very achievable when considering cost of funds reduction and further earning asset yield expansion, though the firm’s expectations of net interest margin expansion have also moderated through 2025 as rate cuts and an early start on deposit cost reduction lower the trajectory, the analyst tells investors in a research note.