Media coverage about Banc of California (NYSE:BANC) has trended somewhat positive this week, AlphaOne Sentiment reports. The research group, a subsidiary of Accern, scores the sentiment of media coverage by analyzing more than 20 million news and blog sources. AlphaOne 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 news impact score of 0.07 on AlphaOne’s scale. AlphaOne also gave news headlines about the bank an impact score of 58 out of 100, meaning that recent media coverage is somewhat likely to have an effect on the stock’s share price in the near future.
Shares of Banc of California (NYSE:BANC) traded up 0.124% during trading on Friday, reaching $20.225. 393,413 shares of the company were exchanged. Banc of California has a 1-year low of $10.93 and a 1-year high of $23.25. The firm has a market capitalization of $958.24 million, a P/E ratio of 11.312 and a beta of 0.77. The firm’s 50 day moving average is $21.03 and its 200 day moving average is $18.18.
Banc of California (NYSE:BANC) last posted its earnings results on Wednesday, May 3rd. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Banc of California had a return on equity of 17.48% and a net margin of 17.57%. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates of $151.51 million. During the same period in the previous year, the company posted $0.36 EPS. On average, equities analysts anticipate that Banc of California will post $1.19 EPS for the current fiscal year.
BANC has been the topic of a number of research analyst reports. Wells Fargo & Co raised shares of Banc of California from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 11th. Zacks Investment Research downgraded shares of Banc of California from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. FIG Partners raised shares of Banc of California from an “underperform” rating to a “market perform” rating in a research report on Monday, January 23rd. FBR & Co reduced their target price on shares of Banc of California from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods downgraded shares of Banc of California from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Banc of California currently has a consensus rating of “Hold” and an average price target of $22.00.
In related news, EVP Jeffrey T. Seabold sold 15,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $20.02, for a total transaction of $300,300.00. Following the transaction, the executive vice president now owns 197,557 shares of the company’s stock, valued at approximately $3,955,091.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John C. Grosvenor sold 14,979 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $20.50, for a total value of $307,069.50. Following the transaction, the executive vice president now directly owns 42,715 shares in the company, valued at approximately $875,657.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,979 shares of company stock worth $807,370. 6.13% of the stock is owned by corporate insiders.
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.
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