Banc of California Director Robb Evans Sells 1,306 Shares (BANC)
Banc of California (NASDAQ:BANC) Director Robb Evans sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $11.23, for a total transaction of $14,666.38. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $112,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Bank of America initiated coverage on shares of Banc of California in a research note on Thursday, May 29th. They set a “buy” rating and a $12.50 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Banc of California from $13.00 to $11.00 in a research note on Monday, May 19th. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Banc of California currently has an average rating of “Hold” and a consensus price target of $13.57.
Shares of Banc of California (NASDAQ:BANC) traded down 0.63% during mid-day trading on Wednesday, hitting $11.00. The stock had a trading volume of 105,903 shares. Banc of California has a 1-year low of $9.70 and a 1-year high of $15.88. The stock’s 50-day moving average is $10.87 and its 200-day moving average is $12.32. The company’s market cap is $225.2 million.
Banc of California (NASDAQ:BANC) last announced its earnings results on Friday, May 9th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.05. Analysts expect that Banc of California will post $0.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, June 11th.
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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