The stock of Banc of California Inc (NYSE:BANC) is a huge mover today! About 8.56M shares traded hands or 478.38% up from the average. Banc of California Inc (NYSE:BANC) has declined 28.60% since March 16, 2016 and is downtrending. It has underperformed by 34.14% the S&P500.
The move comes after 9 months positive chart setup for the $465.59M company. It was reported on Oct, 19 by Barchart.com. We have $18.01 PT which if reached, will make NYSE:BANC worth $167.61 million more.
Analysts await Banc of California Inc (NYSE:BANC) to report earnings on November, 3. They expect $0.42 earnings per share, up 44.83% or $0.13 from last year’s $0.29 per share. BANC’s profit will be $14.77M for 7.88 P/E if the $0.42 EPS becomes a reality. After $0.43 actual earnings per share 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. The rating was downgraded by Raymond James on Monday, November 9 to “Mkt Perform”. Raymond James upgraded the stock to “Outperform” rating in Wednesday, May 4 report. FBR Capital initiated Banc of California Inc (NYSE:BANC) on Friday, July 1 with “Mkt Perform” rating. The firm has “Outperform” rating by Wells Fargo given on Monday, May 2. The firm has “Buy” rating by UBS given on Monday, May 23.
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 2016 Q2. Its down 0.41, from 1.98 in 2016Q1. The ratio fall, 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.
Moreover, Dreman Value Management L L C has 0% invested in Banc of California Inc (NYSE:BANC) for 138 shares. Qs Invsts Ltd Co has invested 0.07% of its portfolio in Banc of California Inc (NYSE:BANC). Mutual Of America Capital Mgmt Limited Liability has 3,200 shares for 0% of their US portfolio. Moreover, Essex Inv Ltd Liability has 0.24% invested in Banc of California Inc (NYSE:BANC) for 79,729 shares. The United Kingdom-based Gsa Capital Prtnrs Limited Liability Partnership has invested 0.02% in Banc of California Inc (NYSE:BANC). Hbk Lp has 51,500 shares for 0.01% of their US portfolio. Banc Funds Co Limited Liability Co has 123,204 shares for 0.13% of their US portfolio. Blackrock Fund Advisors accumulated 0.01% or 3.11 million shares. Gp One Trading Lp last reported 0% of its portfolio in the stock. Alphamark Advsrs Limited Liability Corporation accumulated 0.48% or 44,856 shares. Ls Invest Advisors Ltd Liability Com has 1,772 shares for 0% of their US portfolio. D E Shaw & Inc reported 63,915 shares or 0% of all its holdings. Columbia Prtnrs L L C Inv Mgmt has 113,789 shares for 0.15% of their US portfolio. Mackenzie Fincl Corp has 0.01% invested in the company for 134,649 shares. Piedmont Investment Limited Liability has invested 0% of its portfolio in Banc of California Inc (NYSE:BANC).
Insider Transactions: Since June 17, 2016, the stock had 1 buy, and 2 sales for $1.85 million net activity. $7,420 worth of shares were bought by Sugarman Steven on Tuesday, August 16. Shares for $703,772 were sold by Seabold Jeffrey T.
More notable recent Banc of California Inc (NYSE:BANC) news were published by: Streetinsider.com which released: “Form 4 BANC OF CALIFORNIA, INC. For: Oct 13 Filed by: Nickel Thedora A.” on April 29, 2016, also Foxbusiness.com with their article: “Why Shares of Banc of California, Inc. Are Plunging Today” published on October 18, 2016, Investorplace.com published: “3 Stocks to Watch on Wednesday: Yahoo! Inc. (YHOO), Banc of California Inc …” on October 19, 2016. More interesting news about Banc of California Inc (NYSE:BANC) were released by: Benzinga.com and their article: “Banc Of California Attempts To Rebound From Tuesday’s Disaster” published on October 19, 2016 as well as Bloomberg.com‘s news article titled: “Banc of California CFO Resigns After Less Than Year on Job” with publication date: September 20, 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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