Keefe, Bruyette & Woods Lowers Banc of California Price Target to $11.00 (BANC)
Equities research analysts at Keefe, Bruyette & Woods decreased their price objective on shares of Banc of California (NASDAQ:BANC) from $13.00 to $11.00 in a research note issued to investors on Monday. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 10.22% from the stock’s previous close.
A number of other firms have also recently commented on BANC. Analysts at Davidson cut their price target on shares of Banc of California from $13.50 to $12.50 in a research note on Monday, May 12th. Separately, analysts at Sandler O’Neill cut their price target on shares of Banc of California from $15.00 to $14.00 in a research note on Friday, May 9th. Finally, analysts at Zacks upgraded shares of Banc of California from an “underperform” rating to a “neutral” rating in a research note on Monday, April 28th. They now have a $12.90 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.68.
Shares of Banc of California (NASDAQ:BANC) traded up 0.20% during mid-day trading on Monday, hitting $10.00. 86,575 shares of the company’s stock traded hands. Banc of California has a 52-week low of $9.70 and a 52-week high of $15.88. The stock’s 50-day moving average is $11.9 and its 200-day moving average is $12.76. The company’s market cap is $204.7 million.
Banc of California (NASDAQ:BANC) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.05. Analysts expect that Banc of California will post $0.75 EPS for the current fiscal year.
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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