Brokerages Set Banc of California, Inc. (NYSE:BANC) PT at $20.45

Shares of Banc of California, Inc. (NYSE:BANC) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.8636.

BANC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Citigroup upgraded shares of Banc of California from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $21.50 in a research report on Monday, October 27th. Keefe, Bruyette & Woods raised their price objective on Banc of California from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Barclays increased their target price on Banc of California from $21.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Raymond James Financial upgraded shares of Banc of California from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, October 7th.

Institutional Trading of Banc of California

Several institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in Banc of California during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in Banc of California during the third quarter worth $36,000. GAMMA Investing LLC lifted its holdings in Banc of California by 22.2% in the second quarter. GAMMA Investing LLC now owns 4,201 shares of the bank’s stock valued at $59,000 after buying an additional 762 shares during the period. Aster Capital Management DIFC Ltd boosted its position in Banc of California by 145.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 4,181 shares of the bank’s stock valued at $69,000 after acquiring an additional 2,475 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Banc of California during the 3rd quarter worth about $70,000. 86.88% of the stock is currently owned by institutional investors.

Banc of California Stock Down 0.2%

Shares of BANC opened at $20.15 on Friday. The stock has a market capitalization of $3.05 billion, a PE ratio of 17.08 and a beta of 0.69. Banc of California has a 12 month low of $11.52 and a 12 month high of $21.61. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $19.52 and its 200-day moving average is $17.40.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The firm had revenue of $292.93 million during the quarter, compared to analysts’ expectations of $288.41 million. Banc of California had a return on equity of 8.66% and a net margin of 12.59%.During the same period in the previous year, the firm earned $0.28 EPS. Equities research analysts forecast that Banc of California will post 1.31 EPS for the current year.

Banc of California Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, December 15th. Banc of California’s payout ratio is 33.90%.

Banc of California Company Profile

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.