Headlines about Banc of California (NYSE:BANC) have trended somewhat positive this week, Accern reports. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Banc of California earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 47.3041540351708 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the news stories that may have effected Accern’s scoring:
BANC has been the subject of a number of recent research reports. BidaskClub cut Banc of California from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Banc of California from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, January 1st. ValuEngine cut Banc of California from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. FIG Partners cut Banc of California from a “market perform” rating to an “underperform” rating in a report on Friday, January 26th. Finally, Piper Jaffray Companies initiated coverage on Banc of California in a report on Thursday, December 21st. They issued an “overweight” rating and a $26.00 target price for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.60.
Banc of California (NYSE:BANC) opened at $20.40 on Tuesday. Banc of California has a 1-year low of $17.10 and a 1-year high of $23.40. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $1,032.06, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.89 and a beta of 0.95.
Banc of California (NYSE:BANC) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The company had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. During the same quarter in the previous year, the business earned $0.54 EPS. Banc of California’s revenue was down 31.7% compared to the same quarter last year. equities analysts expect that Banc of California will post 0.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, March 14th. Banc of California’s payout ratio is currently 72.22%.
In other Banc of California news, insider John A. Bogler acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $19.30 per share, for a total transaction of $386,000.00. Following the acquisition, the insider now directly owns 37,500 shares in the company, valued at $723,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.89% of the stock is owned by insiders.
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About Banc of California
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.
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