Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Banc of California (BANC) Share Price

News coverage about Banc of California (NYSE:BANC) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Banc of California earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news headlines about the bank an impact score of 46.5585678123146 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

These are some of the news headlines that may have impacted Accern Sentiment’s scoring:

Shares of Banc of California (NYSE BANC) opened at 21.30 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of 14.25 and a beta of 0.99. Banc of California has a one year low of $12.25 and a one year high of $23.25. The stock’s 50 day moving average price is $19.87 and its 200-day moving average price is $20.44.

Banc of California (NYSE:BANC) last posted its earnings results on Thursday, October 26th. The bank reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $84.24 million. Banc of California had a return on equity of 14.44% and a net margin of 17.12%. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities analysts predict that Banc of California will post $0.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.52 annualized dividend and a yield of 2.44%. Banc of California’s dividend payout ratio is presently 34.67%.

BANC has been the subject of several research reports. ValuEngine raised Banc of California from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, July 11th. FBR & Co reissued a “buy” rating on shares of Banc of California in a research note on Thursday. Keefe, Bruyette & Woods set a $22.00 target price on shares of Banc of California and gave the company a “hold” rating in a research note on Thursday, July 6th. Finally, BidaskClub raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Banc of California presently has a consensus rating of “Hold” and a consensus price target of $22.67.

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In other news, CEO Douglas H. Bowers purchased 57,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were bought at an average cost of $17.56 per share, for a total transaction of $1,000,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 92,000 shares in the company, valued at approximately $1,615,520. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 16.89% of the company’s stock.

Banc of California Company Profile

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

Insider Buying and Selling by Quarter for Banc of California (NYSE:BANC)

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