Banc of California Price Target Increased to $13.00 by Analysts at Keefe, Bruyette & Woods (BANC)
Analysts at Keefe, Bruyette & Woods raised their target price on shares of Banc of California (NASDAQ:BANC) from $11.00 to $13.00 in a research report issued to clients and investors on Friday. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 9.06% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at DA Davidson upgraded shares of Banc of California from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $14.50 price target on the stock, up previously from $11.00. Separately, analysts at Zacks downgraded shares of Banc of California from a “neutral” rating to an “underperform” rating in a research note on Monday, July 14th. They now have a $10.40 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Banc of California has a consensus rating of “Hold” and a consensus target price of $13.62.
Shares of Banc of California (NASDAQ:BANC) traded up 0.42% during mid-day trading on Friday, hitting $11.92. 281,539 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 $15.17. The stock has a 50-day moving average of $11.00 and a 200-day moving average of $11.92. The company’s market cap is $244.0 million.
Banc of California (NASDAQ:BANC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.13. On average, analysts predict that Banc of California will post $0.52 earnings per share 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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