Banc of California Upgraded to “Outperform” at Zacks (BANC)
Banc of California (NASDAQ:BANC) was upgraded by Zacks from an “underperform” rating to an “outperform” rating in a report released on Tuesday. The firm currently has a $12.70 price target on the stock. Zacks‘s target price would suggest a potential upside of 4.87% from the company’s current price.
BANC has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Banc of California from $11.00 to $13.00 in a research note on Friday, August 1st. They now have a “market perform” rating on the stock. Separately, analysts at DA Davidson upgraded shares of Banc of California from a “neutral” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $14.50 price target on the stock, up previously from $11.00. 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $13.85.
Shares of Banc of California (NASDAQ:BANC) traded down 0.91% on Tuesday, hitting $12.00. The stock had a trading volume of 169,049 shares. Banc of California has a 52-week low of $9.70 and a 52-week high of $15.04. The stock’s 50-day moving average is $11.22 and its 200-day moving average is $11.85. The company’s market cap is $331.5 million.
Banc of California (NASDAQ:BANC) last announced its earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.13. Analysts expect that Banc of California will post $0.82 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.
To view Zacks’ full report, visit Zacks’ official website.
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