Banc of California (BANC) Earning Somewhat Favorable Media Coverage, Analysis Shows

News stories about Banc of California (NYSE:BANC) have been trending somewhat positive this week, according to Accern Sentiment. The research group identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Banc of California earned a news sentiment score of 0.07 on Accern’s scale. Accern also gave media stories about the bank an impact score of 47.9801995997954 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

A number of brokerages recently commented on BANC. Piper Jaffray Companies restated a “buy” rating and issued a $25.00 price objective on shares of Banc of California in a research report on Thursday, February 8th. ValuEngine upgraded shares of Banc of California from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. FIG Partners downgraded shares of Banc of California from a “market perform” rating to an “underperform” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of Banc of California from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 30th. Finally, B. Riley downgraded shares of Banc of California from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $20.00 in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.60.

Banc of California (BANC) opened at $20.35 on Friday. Banc of California has a 1-year low of $17.10 and a 1-year high of $23.40. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $1,066.46, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. Banc of California had a net margin of 13.28% and a return on equity of 9.93%. The company had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 31.7% compared to the same quarter last year. equities research analysts anticipate that Banc of California will post 0.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 2.56%. Banc of California’s dividend payout ratio (DPR) is presently 72.22%.

In related news, insider John A. Bogler bought 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $19.30 per share, with a total value of $386,000.00. Following the completion of the acquisition, the insider now owns 37,500 shares in the company, valued at approximately $723,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.89% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Banc of California (NYSE:BANC)

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