1 day Ago By ABMN Staff
Banc of California ( NYSE:BANC – Get Free Report ) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $16.00 to $15.
00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.
‘s price objective would suggest a potential upside of 10.70% from the company’s current price. A number of other equities analysts have also recently issued reports on the stock.
StockNews.com upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Barclays dropped 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. Stephens restated an “equal weight” rating and set a $15.
00 price target on shares of Banc of California in a report on Monday. Robert W. Baird dropped their price objective on shares of Banc of California from $19.
00 to $17.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their target price 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company.
According to data from MarketBeat.com, Banc of California presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.
Read Our Latest Stock Report on Banc of California Banc of California Stock Up 3.3 % Banc of California ( NYSE:BANC – Get Free Report ) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.
26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02.
Banc of California had a return on equity of 6.20% and a net margin of 7.06%.
The business had revenue of $266.01 million during the quarter, compared to the consensus estimate of $272.36 million.
During the same period in the prior year, the company earned $0.19 EPS. Banc of California’s revenue for the quarter was up 1.
2% on a year-over-year basis. Research analysts forecast that Banc of California will post 1.31 EPS for the current fiscal year.
Insider Activity at Banc of California In related news, Director James Andrew Barker bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average cost of $13.16 per share, with a total value of $131,600.
00. Following the completion of the purchase, the director now directly owns 169,680 shares in the company, valued at $2,232,988.80.
The trade was a 6.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink .
2.69% of the stock is owned by corporate insiders. Hedge Funds Weigh In On Banc of California A number of institutional investors and hedge funds have recently made changes to their positions in BANC.
Picton Mahoney Asset Management bought a new position in shares of Banc of California in the fourth quarter valued at $30,000. SBI Securities Co. Ltd.
bought a new position in Banc of California in the 4th quarter valued at about $36,000. Jones Financial Companies Lllp boosted its stake in Banc of California by 35.1% during the 4th quarter.
Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock valued at $55,000 after purchasing an additional 928 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 worth $68,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Banc of California in the fourth quarter worth approximately $97,000. Institutional investors own 86.
88% of the company’s stock. About Banc of California ( 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.
Featured Articles Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter ..
