Could Banc of California Inc See a Reversal After Today’s Strong Options Activity?

 Could Banc of California Inc See a Reversal After Today's Strong Options Activity?

In today’s session Banc of California Inc (BANC) registered an unusually high (249) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BANC increase. With 249 contracts traded and 8914 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BANC161118C00012500 closed last at: $1.6 or 3.2% up. About 882,413 shares traded hands. Banc of California Inc (NYSE:BANC) has declined 20.08% since April 13, 2016 and is downtrending. It has underperformed by 24.00% the S&P500.

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. The firm has “Outperform” rating given on Monday, May 2 by Wells Fargo. UBS initiated the stock with “Buy” rating in Monday, May 23 report. As per Friday, July 1, the company rating was initiated by FBR Capital. Raymond James upgraded the shares of BANC in a report on Wednesday, May 4 to “Outperform” rating. The stock of Banc of California Inc (NYSE:BANC) earned “Buy” rating by DA Davidson on Thursday, October 20. The stock of Banc of California Inc (NYSE:BANC) earned “Mkt Perform” rating by FBR Capital on Thursday, October 20. On Monday, November 9 the stock rating was downgraded by Raymond James to “Mkt Perform”.

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 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.
Ancora Advsrs Ltd Limited Liability Company holds 0.05% of its portfolio in Banc of California Inc (NYSE:BANC) for 25,000 shares. Blackrock Fund Advsrs owns 3.11M shares or 0.01% of their US portfolio. Fisher Asset Ltd Liability has 224,800 shares for 0.01% of their US portfolio. Chicago Equity Ltd Liability accumulated 26,830 shares or 0.01% of the stock. Prudential Finance Inc has 215,109 shares for 0.01% of their US portfolio. Wolverine Asset Mgmt Lc has 0% invested in the company for 10,247 shares. Rhumbline Advisers holds 0% of its portfolio in Banc of California Inc (NYSE:BANC) for 60,842 shares. Aqr Capital Mngmt Limited Liability Company accumulated 108,339 shares or 0% of the stock. Parametric Associate Lc owns 108,932 shares or 0% of their US portfolio. First Manhattan holds 0% of its portfolio in Banc of California Inc (NYSE:BANC) for 33,190 shares. Shinko Asset Mgmt accumulated 0.03% or 224,800 shares. Axa has invested 0.01% of its portfolio in Banc of California Inc (NYSE:BANC). Ameriprise Fincl accumulated 744,569 shares or 0.01% of the stock. Apriem Advsr holds 0.04% or 6,075 shares in its portfolio. Signalpoint Asset Limited holds 0.21% of its portfolio in Banc of California Inc (NYSE:BANC) for 28,227 shares.

Insider Transactions: Since June 17, 2016, the stock had 1 buying transaction, and 2 selling transactions for $1.85 million net activity. Seabold Jeffrey T sold $703,772 worth of stock. The insider Sugarman Steven bought $7,420.

Banc of California, Inc. provides banking services to California’s diverse businesses, entrepreneurs and homeowners. The company has a market cap of $749.67 million. The Bank was formed through the merger of four of Southern California’s community banking franchises. It has a 9.64 P/E ratio. 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.

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 California’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).

More notable recent Banc of California Inc (NYSE:BANC) news were published by: Foxbusiness.com which released: “Why Shares of Banc of California, Inc. Are Plunging Today” on October 18, 2016, also Prnewswire.com with their article: “Banc of California Announces Sale of Commercial Equipment Finance Division and …” published on October 28, 2016, Prnewswire.com published: “BANC OF CALIFORNIA INVESTOR REMINDER: Hagens Berman Reminds Investors in Banc …” on November 08, 2016. More interesting news about Banc of California Inc (NYSE:BANC) were released by: Businesswire.com and their article: “Federman & Sherwood Investigates Banc of California, Inc. for Possible …” published on November 11, 2016 as well as Latimes.com‘s news article titled: “Banc of California under pressure to investigate links to convicted fraudster” with publication date: November 01, 2016.

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