News coverage about Banc of California (NYSE:BANC) has trended somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Banc of California earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave news articles about the bank an impact score of 46.5487320565712 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
A number of analysts have recently commented on BANC shares. Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, January 1st. Bank of America downgraded shares of Banc of California from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a report on Friday, April 6th. FIG Partners downgraded shares of Banc of California from a “market perform” rating to an “underperform” rating in a report on Friday, January 26th. ValuEngine raised shares of Banc of California from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Piper Jaffray reissued a “buy” rating and set a $25.00 price objective on shares of Banc of California in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.
Shares of Banc of California stock traded up $0.05 during trading on Thursday, hitting $18.90. 19,909 shares of the company’s stock were exchanged, compared to its average volume of 631,983. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.96 and a quick ratio of 0.95. Banc of California has a 52-week low of $17.10 and a 52-week high of $23.40. The stock has a market cap of $960.06, a PE ratio of 22.99, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88.
Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.07. Banc of California had a net margin of 13.28% and a return on equity of 9.93%. The firm had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. During the same quarter last year, the company posted $0.54 earnings per share. The firm’s revenue was down 31.7% compared to the same quarter last year. equities analysts expect that Banc of California will post 0.6 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Wednesday, March 14th. Banc of California’s payout ratio is 63.41%.
In related news, insider John A. Bogler bought 20,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $19.30 per share, for a total transaction of $386,000.00. Following the acquisition, the insider now owns 37,500 shares in the company, valued at approximately $723,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.89% of the company’s stock.
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Banc of California Company Profile
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration (SBA) guaranteed business loans, construction and renovation loans, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.
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