News articles about Banc of California (NYSE:BANC) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Banc of California earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave headlines about the bank an impact score of 47.5284930922954 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Banc of California (NYSE:BANC) opened at $21.30 on Wednesday. Banc of California has a 52 week low of $17.10 and a 52 week high of $23.40. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $1,080.00, a PE ratio of 36.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91.
Banc of California (NYSE:BANC) last posted its earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $84.02 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 31.7% compared to the same quarter last year. equities research analysts expect that Banc of California will post 0.88 EPS for the current fiscal year.
Several equities analysts have recently commented on BANC shares. ValuEngine lowered Banc of California from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Banc of California from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, January 1st. Piper Jaffray Companies started coverage on Banc of California in a research note on Thursday, December 21st. They set an “overweight” rating and a $26.00 price target on the stock. B. Riley lowered Banc of California from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $20.00 in a research note on Thursday, February 1st. Finally, FIG Partners lowered Banc of California from a “market perform” rating to an “underperform” rating in a research note on Friday, January 26th. Three equities 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 stock has a consensus rating of “Hold” and a consensus price target of $22.60.
In related news, insider John A. Bogler bought 20,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $19.30 per share, for a total transaction of $386,000.00. Following the completion of the purchase, the insider now directly owns 37,500 shares of the company’s stock, valued at $723,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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