Somewhat Positive Press Coverage Somewhat Unlikely to Impact Banc of California (BANC) Share Price

News coverage about Banc of California (NYSE:BANC) has been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Banc of California earned a daily sentiment score of 0.08 on Accern’s scale. Accern also gave news articles about the bank an impact score of 47.5284930922954 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

Here are some of the news articles that may have impacted Accern Sentiment’s analysis:

NYSE:BANC traded up $0.50 during mid-day trading on Thursday, reaching $19.30. 426,433 shares of the stock were exchanged, compared to its average volume of 668,815. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $955.00, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.51 and a beta of 0.91. Banc of California has a 1 year low of $17.10 and a 1 year high of $23.40.

Banc of California (NYSE:BANC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. The company had revenue of $78.87 million for the quarter, compared to the consensus estimate of $84.02 million. Banc of California had a net margin of 13.28% and a return on equity of 9.93%. The firm’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. equities analysts anticipate that Banc of California will post 0.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, March 14th. Banc of California’s dividend payout ratio (DPR) is currently 72.22%.

BANC has been the subject of several research reports. ValuEngine downgraded shares of Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Piper Jaffray started coverage on shares of Banc of California in a report on Thursday, December 21st. They set an “overweight” rating and a $26.00 price objective on the stock. Zacks Investment Research raised shares of Banc of California from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Monday, January 1st. B. Riley downgraded shares of Banc of California from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $20.00 in a report on Thursday, February 1st. Finally, FIG Partners downgraded shares of Banc of California from a “market perform” rating to an “underperform” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.60.

In related news, insider John A. Bogler purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $19.30 per share, with a total value of $386,000.00. Following the acquisition, the insider now owns 37,500 shares of the company’s stock, valued at $723,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.89% of the stock is currently 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.

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

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