The stock of Banc of California Inc (NYSE:BANC) is a huge mover today! About 248,470 shares traded hands. Banc of California Inc (NYSE:BANC) has declined 24.47% since April 18, 2016 and is downtrending. It has underperformed by 28.90% the S&P500.
The move comes after 6 months positive chart setup for the $703.79M company. It was reported on Nov, 18 by Barchart.com. We have $21.16 PT which if reached, will make NYSE:BANC worth $302.63M more.
Banc of California Inc (NYSE:BANC) Ratings Coverage
Out of 6 analysts covering Banc of California (NYSE:BANC), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Banc of California has been the topic of 9 analyst reports since November 9, 2015 according to StockzIntelligence Inc. DA Davidson upgraded the stock to “Buy” rating in Thursday, October 20 report. The firm has “Mkt Perform” rating by FBR Capital given on Friday, July 1. The stock has “Mkt Perform” rating given by Raymond James on Monday, November 9. Raymond James upgraded the stock to “Outperform” rating in Wednesday, May 4 report. FBR Capital maintained Banc of California Inc (NYSE:BANC) rating on Thursday, October 20. FBR Capital has “Mkt Perform” rating and $16 price target. As per Monday, May 23, the company rating was initiated by UBS. As per Monday, May 2, the company rating was initiated by Wells Fargo.
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 1.15 in 2016 Q2. Its down 0.42, from 1.57 in 2016Q1. The ratio turned negative, 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.
The Georgia-based Voya Mngmt Ltd has invested 0% in Banc of California Inc (NYSE:BANC). The New Jersey-based Gargoyle Advisor Ltd Com has invested 0.17% in Banc of California Inc (NYSE:BANC). Moreover, Jpmorgan Chase has 0.01% invested in Banc of California Inc (NYSE:BANC) for 1.19 million shares. Magee Thomson Prns Limited Liability Com, a California-based fund reported 43 shares. Citigroup Inc holds 33,738 shares or 0% of its portfolio. Clark Cap Mgmt Group accumulated 0.1% or 81,553 shares. Mutual Of America Ltd Liability Corporation has 3,200 shares for 0% of their US portfolio. Advsr Asset Mngmt holds 27,561 shares or 0.01% of its portfolio. Goldman Sachs Grp, a New York-based fund reported 52,229 shares. Forest Hill Capital Ltd Llc reported 1.98M shares or 4.79% of all its holdings. Suntrust Banks Inc, a Georgia-based fund reported 12,076 shares. Virginia Retirement Sys Et Al has 0.02% invested in the company for 64,400 shares. Comerica State Bank holds 49,063 shares or 0.01% of its portfolio. Sei Com holds 4,254 shares or 0% of its portfolio. Tci Wealth owns 60 shares or 0% of their US portfolio.
Insider Transactions: Since June 17, 2016, the stock had 1 buy, and 2 selling transactions for $1.85 million net activity. Seabold Jeffrey T also sold $703,772 worth of Banc of California Inc (NYSE:BANC) on Friday, September 30. Shares for $7,420 were bought by Sugarman Steven on Tuesday, August 16.
More notable recent Banc of California Inc (NYSE:BANC) news were published by: Businesswire.com which released: “Federman & Sherwood Investigates Banc of California, Inc. for Possible …” on November 11, 2016, also Foxbusiness.com with their article: “Why Banc of California, Inc. Stock Is Flying High Today” published on October 19, 2016, Prnewswire.com published: “Banc of California Announces Sale of Commercial Equipment Finance Division and …” on October 28, 2016. More interesting news about Banc of California Inc (NYSE:BANC) were released by: Latimes.com and their article: “Banc of California under pressure to investigate links to convicted fraudster” published on November 01, 2016 as well as Prnewswire.com‘s news article titled: “BANC OF CALIFORNIA INVESTOR REMINDER: Hagens Berman Reminds Investors in Banc …” with publication date: November 08, 2016.
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).
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