Banc of California, Inc. (NYSE:BANC – Get Free Report) insider Olivia I. Lindsay sold 11,000 shares of Banc of California stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.58, for a total value of $149,380.00. Following the sale, the insider now directly owns 30,902 shares in the company, valued at $419,649.16. The trade was a 26.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Banc of California Stock Performance
Shares of NYSE BANC opened at $14.00 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 25.00 and a beta of 0.67. The stock’s fifty day simple moving average is $13.49 and its 200 day simple moving average is $14.84. Banc of California, Inc. has a 52-week low of $11.52 and a 52-week high of $18.08.
Banc of California (NYSE:BANC – Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $266.01 million for the quarter, compared to analysts’ expectations of $272.36 million. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. As a group, sell-side analysts forecast that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.
Banc of California Announces Dividend
Wall Street Analyst Weigh In
BANC has been the topic of several recent analyst reports. Robert W. Baird cut their target price on Banc of California from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Barclays lowered their price target on Banc of California from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price target on Banc of California from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Banc of California in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their price target on Banc of California from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.
Check Out Our Latest Stock Analysis on BANC
Institutional Trading of Banc of California
Several hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC boosted its position in shares of Banc of California by 29.9% in the first quarter. Intech Investment Management LLC now owns 86,010 shares of the bank’s stock worth $1,220,000 after buying an additional 19,821 shares during the period. Bayforest Capital Ltd boosted its position in shares of Banc of California by 1,355.6% in the first quarter. Bayforest Capital Ltd now owns 31,513 shares of the bank’s stock worth $447,000 after buying an additional 29,348 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Banc of California by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 441,856 shares of the bank’s stock worth $6,270,000 after buying an additional 4,263 shares during the period. Caxton Associates LLP acquired a new stake in shares of Banc of California in the first quarter worth $476,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Banc of California by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,796,996 shares of the bank’s stock worth $53,879,000 after buying an additional 297,680 shares during the period. Institutional investors and hedge funds own 86.88% of the company’s stock.
About Banc of California
Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.
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