Banc of California, Inc. (NYSE:BANC - Get Free Report) CEO Jared M. Wolff acquired 7,130 shares of Banc of California stock in a transaction that occurred on Thursday, April 25th. The shares were purchased at an average price of $13.98 per share, with a total value of $99,677.40. Following the purchase, the chief executive officer now owns 268,695 shares in the company, valued at $3,756,356.10. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Banc of California Price Performance
NYSE:BANC traded up $0.22 during trading hours on Friday, reaching $14.32. 1,714,285 shares of the company were exchanged, compared to its average volume of 2,476,352. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average is $14.49 and its 200-day moving average is $13.34. The firm has a market cap of $2.25 billion, a PE ratio of -4.30 and a beta of 1.15. Banc of California, Inc. has a twelve month low of $9.72 and a twelve month high of $16.08.
Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.07). The company had revenue of $522.57 million for the quarter, compared to analyst estimates of $296.02 million. Banc of California had a positive return on equity of 2.25% and a negative net margin of 29.10%. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, sell-side analysts anticipate that Banc of California, Inc. will post 1.5 earnings per share for the current fiscal year.
Banc of California Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, March 14th. Banc of California's dividend payout ratio (DPR) is -12.01%.
Institutional Investors Weigh In On Banc of California
Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Banc of California by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,435 shares of the bank's stock valued at $303,000 after purchasing an additional 955 shares during the period. Truist Financial Corp grew its holdings in shares of Banc of California by 9.8% in the fourth quarter. Truist Financial Corp now owns 13,747 shares of the bank's stock valued at $185,000 after purchasing an additional 1,223 shares during the period. Sippican Capital Advisors grew its holdings in shares of Banc of California by 1.2% in the third quarter. Sippican Capital Advisors now owns 115,144 shares of the bank's stock valued at $1,425,000 after purchasing an additional 1,325 shares during the period. Versant Capital Management Inc grew its holdings in shares of Banc of California by 2,466.2% in the fourth quarter. Versant Capital Management Inc now owns 1,899 shares of the bank's stock valued at $26,000 after purchasing an additional 1,825 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Banc of California in the first quarter valued at about $29,000. 86.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
BANC has been the subject of several recent analyst reports. Wedbush reduced their price objective on shares of Banc of California from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Banc of California from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. Barclays dropped their target price on shares of Banc of California from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Stephens reissued an "equal weight" rating and set a $16.00 target price on shares of Banc of California in a research report on Thursday. Finally, Truist Financial dropped their target price on shares of Banc of California from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.64.
Check Out Our Latest Analysis on Banc of California
Banc of California Company Profile
(
Get Free Report)
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.
See Also
Before you consider Banc of California, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Banc of California wasn't on the list.
While Banc of California currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
