Banc of California Given Consensus Rating of “Hold” by Brokerages (NASDAQ:BANC)
Banc of California (NASDAQ:BANC) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, AmericanBankingNews.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.28.
Shares of Banc of California (NASDAQ:BANC) traded down 2.37% on Tuesday, hitting $11.97. 230,526 shares of the company’s stock traded hands. Banc of California has a 52-week low of $11.00 and a 52-week high of $15.88. The stock has a 50-day moving average of $12.67 and a 200-day moving average of $13.17. The company’s market cap is $242.7 million.
Banc of California (NASDAQ:BANC) last announced its earnings results on Thursday, March 13th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.24. On average, analysts predict that Banc of California will post $0.78 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on BANC shares. Analysts at Raymond James downgraded shares of Banc of California from an “outperform” rating to a “market perform” rating in a research note on Tuesday. They now have a $14.50 price target on the stock. Separately, analysts at FIG Partners downgraded shares of Banc of California from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 20th. They now have a $13.50 price target on the stock, down previously from $16.00. Finally, analysts at DA Davidson downgraded shares of Banc of California from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 19th. They now have a $13.50 price target on the stock, down previously from $15.00.
Banc of California, Inc, formerly First PacTrust Bancorp, Inc is a multi-bank holding company. The Company provides commercial, residential and consumer banking and related financial services through approximately 19 banking offices located in Los Angeles, Orange, San Diego and Riverside, California, and 23 loan production offices in California, Arizona, Oregon and Washington.
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