Banc of California Given Average Rating of “Buy” by Brokerages (NASDAQ:BANC)
Shares of Banc of California (NASDAQ:BANC) have received an average rating of “Buy” from the nine analysts that are covering the stock, American Banking and Market News reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.49.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Banc of California from an “underperform” rating to an “outperform” rating in a research note on Tuesday, August 12th. They now have a $12.70 price target on the stock. Separately, 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. Finally, 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.
Banc of California (NASDAQ:BANC) traded up 0.33% during mid-day trading on Monday, hitting $12.24. 5,581 shares of the company’s stock traded hands. Banc of California has a 1-year low of $9.70 and a 1-year high of $14.75. The stock’s 50-day moving average is $11.51 and its 200-day moving average is $11.81. The company’s market cap is $347.2 million.
Banc of California (NASDAQ:BANC) last announced its earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13. On average, analysts predict that Banc of California will post $0.82 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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