Banc of California (BANC) Getting Somewhat Positive Media Coverage, Analysis Finds
Media stories about Banc of California (NYSE:BANC) have trended somewhat positive recently, according to Accern Sentiment. The research firm ranks the sentiment of press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Banc of California earned a media sentiment score of 0.24 on Accern’s scale. Accern also gave headlines about the bank an impact score of 47.5106144581672 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Banc of California Announces Hiring of James Wiegandt as Managing Director, Commercial Real Estate and … – PR Newswire (press release) (prnewswire.com)
- Banc of California Announces Hiring of James Wiegandt as Managing Director, Commercial Real Estate and Multifamily Banking (finance.yahoo.com)
- Stock’s Trend Analysis Report: Banc of California, Inc., (NYSE: BANC), Tenneco Inc., (NYSE: TEN), Regal Beloit … – Stocks In The News (press release) (tradingnewsnow.com)
- Banc of California, Inc. (BANC) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
Banc of California (NYSE:BANC) traded up $0.05 during midday trading on Friday, reaching $19.70. The company had a trading volume of 367,000 shares, compared to its average volume of 1,123,599. Banc of California has a twelve month low of $13.20 and a twelve month high of $23.25. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 2.21. The company has a market cap of $989.60, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95.
Banc of California (NYSE:BANC) last posted its earnings results on Thursday, October 26th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Banc of California had a return on equity of 11.78% and a net margin of 15.48%. The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $84.24 million. During the same period in the prior year, the business earned $0.59 EPS. analysts anticipate that Banc of California will post 0.88 EPS for the current fiscal year.
A number of brokerages have recently commented on BANC. BidaskClub cut Banc of California from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research raised Banc of California from a “strong sell” rating to a “hold” rating in a research note on Monday, October 9th. FBR & Co reaffirmed a “buy” rating and issued a $24.00 price target on shares of Banc of California in a research note on Thursday, October 26th. ValuEngine raised Banc of California from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Keefe, Bruyette & Woods set a $20.00 price target on Banc of California and gave the company a “hold” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.67.
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In other Banc of California news, CEO Douglas H. Bowers bought 57,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $17.56 per share, with a total value of $1,000,920.00. Following the purchase, the chief executive officer now owns 92,000 shares in the company, valued at $1,615,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.89% of the stock is currently owned by corporate insiders.
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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