Banc of California, Inc. (NYSE:BANC) Given Consensus Rating of “Hold” by Brokerages

Shares of Banc of California, Inc. (NYSE:BANC) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.07.

A number of equities research analysts recently weighed in on the company. Barclays assumed coverage on Banc of California in a research note on Friday, March 8th. They issued an “equal weight” rating and a $16.00 price target on the stock. Wedbush increased their price target on Banc of California from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Wells Fargo & Company increased their price target on Banc of California from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. StockNews.com assumed coverage on Banc of California in a research note on Monday, January 29th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded Banc of California from a “market perform” rating to an “outperform” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Friday, March 22nd.

Banc of California Trading Up 0.4 %

Shares of Banc of California stock opened at $13.86 on Monday. Banc of California has a 12-month low of $9.72 and a 12-month high of $16.08. The stock has a market cap of $2.18 billion, a P/E ratio of -4.39 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $14.47 and its 200-day moving average is $13.29.

Banc of California (NYSE:BANC) last posted its quarterly earnings results on Thursday, January 25th. The bank reported ($4.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($4.27). Banc of California had a negative net margin of 44.04% and a positive return on equity of 1.14%. The business had revenue of $193.06 million during the quarter, compared to the consensus estimate of $163.11 million. During the same quarter last year, the company posted $0.45 EPS. Equities research analysts predict that Banc of California will post 1.5 earnings per share for the current fiscal year.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, March 14th. Banc of California’s dividend payout ratio is -12.66%.

Insider Buying and Selling at Banc of California

In related news, Director James Andrew Barker bought 10,000 shares of Banc of California stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $13.16 per share, with a total value of $131,600.00. Following the acquisition, the director now owns 159,680 shares in the company, valued at approximately $2,101,388.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.37% of the company’s stock.

Institutional Trading of Banc of California

Several large investors have recently modified their holdings of BANC. Versant Capital Management Inc grew its holdings in shares of Banc of California by 2,466.2% during the 4th quarter. Versant Capital Management Inc now owns 1,899 shares of the bank’s stock worth $26,000 after purchasing an additional 1,825 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Banc of California during the 1st quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Banc of California during the 1st quarter worth $30,000. Lee Financial Co acquired a new stake in Banc of California in the fourth quarter valued at about $40,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Banc of California in the fourth quarter valued at about $41,000. 86.88% of the stock is owned by institutional investors and hedge funds.

Banc of California Company Profile

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.