Media coverage about Banc of California (NYSE:BANC) has trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm scores the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Banc of California earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned media coverage about the bank an impact score of 47.3041540351708 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Banc of California (NYSE BANC) traded down $0.35 during mid-day trading on Wednesday, reaching $20.95. The company’s stock had a trading volume of 601,827 shares, compared to its average volume of 637,466. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.95 and a current ratio of 0.96. Banc of California has a 52 week low of $17.10 and a 52 week high of $23.40. The company has a market capitalization of $1,060.00, a P/E ratio of 35.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91.
Banc of California (NYSE:BANC) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The firm had revenue of $78.87 million for the quarter, compared to the consensus estimate of $84.02 million. During the same quarter last year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 31.7% compared to the same quarter last year. sell-side analysts anticipate that Banc of California will post 0.88 EPS for the current year.
BANC has been the topic of several recent analyst reports. ValuEngine cut Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Piper Jaffray Companies initiated coverage on Banc of California in a research report on Thursday, December 21st. They set an “overweight” rating and a $26.00 price objective on the stock. Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday, January 1st. FIG Partners cut Banc of California from a “market perform” rating to an “underperform” rating in a research report on Friday, January 26th. Finally, B. Riley downgraded Banc of California from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $20.00 in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.60.
In related news, insider John A. Bogler acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $19.30 per share, with a total value of $386,000.00. Following the completion of the purchase, the insider now directly owns 37,500 shares of the company’s stock, valued at $723,750. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.89% of the stock is owned by company insiders.
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About Banc of California
Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.
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