Banc of California (NYSE:BANC) Given Equal Weight Rating at Stephens

Banc of California (NYSE:BANC - Get Free Report)'s stock had its "equal weight" rating restated by research analysts at Stephens in a note issued to investors on Monday,Benzinga reports. They presently have a $15.00 target price on the bank's stock. Stephens' price target suggests a potential upside of 12.49% from the stock's current price.

BANC has been the subject of several other reports. Barclays reduced their target price on Banc of California from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird lowered their target price on Banc of California from $19.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday. Raymond James upped their price target on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. began coverage on shares of Banc of California in a research report on Friday, February 7th. They issued a "neutral" rating and a $18.00 price objective on the stock. Finally, StockNews.com upgraded Banc of California from a "sell" rating to a "hold" rating in a research report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.50.

Banc of California Trading Up 1.0 %

NYSE BANC traded up $0.14 on Monday, hitting $13.34. 94,325 shares of the company were exchanged, compared to its average volume of 2,615,141. Banc of California has a twelve month low of $11.52 and a twelve month high of $18.08. The company's 50 day moving average price is $13.74 and its 200-day moving average price is $15.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $2.12 billion, a P/E ratio of 23.83 and a beta of 0.85.

Banc of California (NYSE:BANC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $266.01 million during the quarter, compared to the consensus estimate of $272.36 million. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. Analysts predict that Banc of California will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banc of California

Several institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in shares of Banc of California during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Banc of California in the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp grew its stake in shares of Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock worth $55,000 after acquiring an additional 928 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Banc of California by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank's stock valued at $68,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Banc of California in the 4th quarter worth approximately $97,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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