Banc of California's (BANC) Equal Weight Rating Reiterated at Stephens

Banc of California (NYSE:BANC - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Stephens in a research note issued on Monday,Benzinga reports. They currently have a $15.00 price objective on the bank's stock. Stephens' price objective would indicate a potential upside of 9.25% from the company's current price.

Several other brokerages also recently weighed in on BANC. JPMorgan Chase & Co. started coverage on Banc of California in a research note on Friday, February 7th. They set a "neutral" rating and a $18.00 target price on the stock. Robert W. Baird cut their price objective on shares of Banc of California from $19.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. StockNews.com upgraded shares of Banc of California from a "sell" rating to a "hold" rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Raymond James increased their price objective on shares of Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.25.

Banc of California Stock Performance

BANC stock traded up $0.34 during mid-day trading on Monday, reaching $13.73. The company had a trading volume of 1,639,914 shares, compared to its average volume of 2,353,679. Banc of California has a one year low of $11.52 and a one year high of $18.08. The stock has a market capitalization of $2.18 billion, a P/E ratio of 24.52 and a beta of 0.85. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock's 50-day simple moving average is $13.57 and its two-hundred day simple moving average is $15.15.

Banc of California (NYSE:BANC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. The firm had revenue of $266.01 million during the quarter, compared to analyst estimates of $272.36 million. During the same period in the previous year, the business posted $0.19 EPS. Banc of California's revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Banc of California will post 1.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director James Andrew Barker bought 10,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were bought at an average cost of $13.16 per share, with a total value of $131,600.00. Following the purchase, the director now directly owns 169,680 shares in the company, valued at $2,232,988.80. This trade represents a 6.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.69% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in Banc of California by 4.4% during the 3rd quarter. Barclays PLC now owns 425,634 shares of the bank's stock worth $6,270,000 after acquiring an additional 17,876 shares during the period. Sanctuary Advisors LLC purchased a new position in Banc of California during the third quarter valued at approximately $167,000. World Investment Advisors LLC grew its position in Banc of California by 4.5% during the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank's stock valued at $266,000 after purchasing an additional 779 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in Banc of California in the 4th quarter valued at approximately $1,323,000. Finally, Crescent Grove Advisors LLC lifted its position in Banc of California by 0.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 99,084 shares of the bank's stock worth $1,542,000 after buying an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company's stock.

About Banc of California

Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.