The stock of Banc of California Inc (NYSE:BANC) is a huge mover today! About 14.04 million shares traded hands or 1416.02% up from the average. Banc of California Inc (NYSE:BANC) has risen 1.08% since March 15, 2016 and is uptrending. It has underperformed by 4.40% the S&P500.
The move comes after 8 months negative chart setup for the $536.76 million company. It was reported on Oct, 18 by Barchart.com. We have $10.18 PT which if reached, will make NYSE:BANC worth $42.94M less.
Analysts await Banc of California Inc (NYSE:BANC) to report earnings on November, 3. They expect $0.42 EPS, up 44.83% or $0.13 from last year’s $0.29 per share. BANC’s profit will be $20.38 million for 6.58 P/E if the $0.42 EPS becomes a reality. After $0.43 actual EPS reported by Banc of California Inc for the previous quarter, Wall Street now forecasts -2.33% negative EPS growth.
Banc of California Inc (NYSE:BANC) Ratings Coverage
Out of 5 analysts covering Banc of California (NYSE:BANC), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Banc of California has been the topic of 7 analyst reports since November 9, 2015 according to StockzIntelligence Inc. FBR Capital initiated Banc of California Inc (NYSE:BANC) rating on Friday, July 1. FBR Capital has “Mkt Perform” rating and $20 price target. The firm has “Outperform” rating given on Monday, May 2 by Wells Fargo. The firm has “Mkt Perform” rating given on Monday, November 9 by Raymond James. The stock of Banc of California Inc (NYSE:BANC) earned “Buy” rating by UBS on Monday, May 23. As per Wednesday, May 4, the company rating was upgraded by Raymond James.
According to Zacks Investment Research, “Banc of California, Inc. provides comprehensive banking services to California’s diverse private businesses, entrepreneurs and homeowners. It is the parent company of Banc of California, National Association.”
Insitutional Activity: The institutional sentiment decreased to 1.57 in Q2 2016. Its down 0.41, from 1.98 in 2016Q1. The ratio dived, as 21 funds sold all Banc of California Inc shares owned while 48 reduced positions. 42 funds bought stakes while 66 increased positions. They now own 43.11 million shares or 13.44% more from 38.00 million shares in 2016Q1.
Clark Cap has 81,553 shares for 0.1% of their US portfolio. Moreover, Citadel Advisors Lc has 0% invested in Banc of California Inc (NYSE:BANC) for 134,104 shares. Victory Management has 0% invested in the company for 48,067 shares. Capstone Asset has invested 0.01% of its portfolio in Banc of California Inc (NYSE:BANC). Alliancebernstein L P, a New York-based fund reported 64,300 shares. State Of Tennessee Treasury Department holds 0% or 39,086 shares in its portfolio. Strs Ohio has 44,500 shares for 0% of their US portfolio. Lsv Asset Management owns 1.33M shares or 0.05% of their US portfolio. Meeder Asset Mngmt reported 821 shares or 0% of all its holdings. Forest Hill Limited Liability Com holds 1.98 million shares or 4.79% of its portfolio. Blackrock Fund Advsr last reported 0.01% of its portfolio in the stock. Advsr Asset holds 0.01% or 27,561 shares in its portfolio. Northern Trust Corp has invested 0% of its portfolio in Banc of California Inc (NYSE:BANC). Metropolitan Life Ins Commerce Ny owns 35,363 shares or 0% of their US portfolio. Sector Pension Inv Board accumulated 0.01% or 35,000 shares.
Insider Transactions: Since June 17, 2016, the stock had 1 buying transaction, and 2 selling transactions for $1.85 million net activity. $703,772 worth of Banc of California Inc (NYSE:BANC) shares were sold by Seabold Jeffrey T. On Tuesday, August 16 Sugarman Steven bought $7,420 worth of the stock or 338 shares.
More recent Banc of California Inc (NYSE:BANC) news were published by: Finance.Yahoo.com which released: “Banc of California Announces Expansion of Private Banking Division” on October 17, 2016. Also Bloomberg.com published the news titled: “Banc of California CFO Resigns After Less Than Year on Job” on September 20, 2016. Blogs.Wsj.com‘s news article titled: “CFO Moves: Kemper, Banc of California, Tatts, AirAsia” with publication date: September 21, 2016 was also an interesting one.
BANC Company Profile
Banc of California, Inc., incorporated on March 25, 2002, provides banking services to California’s diverse businesses, entrepreneurs and homeowners. The Bank was formed through the merger of four of Southern Californiaâ€™s community banking franchises. The Bank offers a range of financial services to meet the banking and financial needs of the communities it serves, with activities conducted through over 100 banking offices across California and across the West. The Bank’s deposit product and service offerings include checking, savings, money market, certificates of deposit, retirement accounts, as well as online, telephone and mobile banking, automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, Automated Clearing House (ACH) origination, wire transfer, direct deposit and safe deposit boxes. As of date March 31, 2016, its clients have the ability to access their accounts through a network of over 55,000 Automated teller machines (ATMs).
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.