Warburg Pincus completed a sizable disposition of Banc of California stock on February 2, 2026, selling 11,849,999 shares across three equity classes at $20.00 per share for total proceeds of $237,000,000.
The block sold comprised 7,557,936 shares of Voting Common Stock, 3,292,064 shares of Non-Voting Common Equivalent Stock and 1,000,000 shares of NVCE Stock. Following the transfers, Warburg Pincus retains an indirect holding of 6,890,244 shares of Voting Common Stock and 1,000,000 shares of Non-Voting Common Equivalent Stock in Banc of California, Inc. (NYSE: BANC).
Separately, Banc of California reported fourth-quarter results that topped analysts’ consensus. The bank posted earnings per share of $0.42, above the $0.37 consensus, and reported revenue of $292.9 million versus an expected $289.43 million. Total loans and leases increased at an annualized rate of 15% during the quarter, reaching $25.2 billion.
Market analysts reacted to the quarterly performance with upward revisions to price targets and continued positive ratings. Raymond James raised its price target for Banc of California to $24.00 from $20.00 and maintained a Strong Buy rating, citing the company’s stronger-than-expected quarter and strategic progress. Keefe, Bruyette & Woods lifted its target to $23.00 from $22.00, referencing strengthening growth and improving returns. DA Davidson reiterated its Buy rating and highlighted both earnings per share and pre-provision net revenue that exceeded forecasts; the firm also noted a core net interest margin expansion of 6 basis points.
Collectively, these developments are described as indicating positive momentum for Banc of California as it continues to execute on strategic initiatives. The stock sale by Warburg Pincus, the bank’s quarterly outperformance and the series of analyst adjustments are the primary items reflected in public filings and market commentary provided alongside the earnings report.
Context and facts only - This report presents the transaction details disclosed for Warburg Pincus and the earnings and analyst responses published in connection with Banc of California’s fourth-quarter results. It does not infer causes beyond the company disclosures and the analyst statements cited.