Somewhat Favorable News Coverage Somewhat Unlikely to Impact Banc of California (BANC) Share Price

News headlines about Banc of California (NYSE:BANC) have been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Banc of California earned a coverage optimism score of 0.04 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 48.1343811158069 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

Here are some of the media headlines that may have impacted Accern’s analysis:

BANC has been the subject of several research reports. Zacks Investment Research upgraded shares of Banc of California from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, January 1st. ValuEngine downgraded shares of Banc of California from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. FIG Partners downgraded shares of Banc of California from a “market perform” rating to an “underperform” rating in a research note on Friday, January 26th. Piper Jaffray Companies began coverage on shares of Banc of California in a research report on Thursday, December 21st. They set an “overweight” rating and a $26.00 price objective for the company. Finally, B. Riley cut shares of Banc of California from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $20.00 in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, two have given 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 price target of $22.60.

Shares of Banc of California (NYSE BANC) traded up $0.10 on Monday, reaching $20.65. 39,786 shares of the company were exchanged, compared to its average volume of 628,190. Banc of California has a 52-week low of $17.10 and a 52-week high of $23.40. The stock has a market capitalization of $1,041.13, a PE ratio of 28.78, a PEG ratio of 1.90 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 2.51.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. During the same period in the previous year, the company earned $0.54 earnings per share. Banc of California’s quarterly revenue was down 31.7% compared to the same quarter last year. analysts anticipate that Banc of California will post 0.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given 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 2.52%. Banc of California’s dividend payout ratio (DPR) is presently 72.22%.

In other Banc of California news, insider John A. Bogler acquired 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, for a total transaction of $386,000.00. Following the completion of the purchase, the insider now owns 37,500 shares in the company, valued at approximately $723,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.89% of the stock is owned by insiders.

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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.

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

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