Insider Selling: Banc of California Director Sells 1,306 Shares of Stock (BANC)
Banc of California (NASDAQ:BANC) Director Robb Evans sold 1,306 shares of the stock on the open market in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $11.23, for a total value of $14,666.38. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $112,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
BANC has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Banc of California has an average rating of “Hold” and an average price target of $13.57.
Shares of Banc of California (NASDAQ:BANC) traded down 1.36% during mid-day trading on Thursday, hitting $10.85. 16,978 shares of the company’s stock traded hands. Banc of California has a one year low of $9.70 and a one 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 $222.1 million.
Banc of California (NASDAQ:BANC) last posted its quarterly 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 announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date 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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