Banc of California Inc (NYSE:BANC) – Investment analysts at B. Riley cut their FY2019 earnings per share (EPS) estimates for Banc of California in a research note issued on Thursday. B. Riley analyst S. Moss now expects that the bank will earn $1.20 per share for the year, down from their previous forecast of $1.25. B. Riley currently has a “Neutral” rating and a $20.00 target price on the stock.

Several other research firms have also weighed in on BANC. ValuEngine lowered Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. FIG Partners lowered Banc of California from a “market perform” rating to an “underperform” rating in a research report on Friday, January 26th. BidaskClub raised Banc of California from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Piper Jaffray Companies assumed coverage on Banc of California in a research report on Thursday, December 21st. They set an “overweight” rating and a $26.00 price target on the stock. Finally, Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, January 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.60.

Banc of California (NYSE BANC) traded down $0.25 during trading hours on Friday, reaching $19.10. The company had a trading volume of 1,214,486 shares, compared to its average volume of 734,557. The firm has a market capitalization of $981.47, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. Banc of California has a 52-week low of $17.10 and a 52-week high of $23.40. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 2.51.

Banc of California (NYSE:BANC) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $78.87 million for the quarter, compared to analyst estimates of $84.02 million. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. Banc of California’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share.

In other news, insider John A. Bogler bought 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $19.30 per share, with a total value of $386,000.00. Following the transaction, the insider now directly owns 37,500 shares in the company, valued at approximately $723,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.89% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP increased its position in Banc of California by 1,310.0% in the 4th quarter. Royce & Associates LP now owns 141,000 shares of the bank’s stock worth $2,912,000 after purchasing an additional 131,000 shares during the last quarter. Penn Capital Management Co. Inc. increased its position in Banc of California by 11.6% in the 4th quarter. Penn Capital Management Co. Inc. now owns 741,864 shares of the bank’s stock worth $15,339,000 after purchasing an additional 77,231 shares during the last quarter. Rhumbline Advisers increased its position in Banc of California by 13.9% in the 4th quarter. Rhumbline Advisers now owns 102,307 shares of the bank’s stock worth $2,113,000 after purchasing an additional 12,447 shares during the last quarter. Arizona State Retirement System increased its position in Banc of California by 225.3% in the 4th quarter. Arizona State Retirement System now owns 71,569 shares of the bank’s stock worth $1,478,000 after purchasing an additional 49,569 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in Banc of California by 74.9% in the 4th quarter. Pinebridge Investments L.P. now owns 138,791 shares of the bank’s stock worth $2,866,000 after purchasing an additional 59,457 shares during the last quarter.

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Banc of California Company Profile

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.

Earnings History and Estimates for Banc of California (NYSE:BANC)

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