Banc of California, Inc. (NYSE:BANC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

BANC has been the topic of a number of other research reports. Keefe, Bruyette & Woods set a $22.00 target price on Banc of California and gave the stock a “hold” rating in a report on Thursday, July 6th. ValuEngine upgraded Banc of California from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research downgraded Banc of California from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, FBR & Co reduced their target price on Banc of California from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.50.

Shares of Banc of California (NYSE:BANC) traded down 0.26% during trading on Friday, reaching $19.35. The company’s stock had a trading volume of 546,751 shares. Banc of California has a 12-month low of $10.93 and a 12-month high of $23.25. The stock has a market cap of $973.09 million, a P/E ratio of 12.97 and a beta of 0.97. The stock’s 50-day moving average is $20.67 and its 200-day moving average is $20.33.

Banc of California (NYSE:BANC) last posted its earnings results on Wednesday, July 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.04. Banc of California had a return on equity of 14.44% and a net margin of 17.12%. The firm had revenue of $81.21 million for the quarter, compared to analysts’ expectations of $97.94 million. During the same quarter last year, the company posted $0.46 EPS. Equities research analysts anticipate that Banc of California will post $0.76 earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Banc of California by 48,720.8% in the first quarter. BlackRock Inc. now owns 6,494,627 shares of the bank’s stock worth $134,438,000 after buying an additional 6,481,324 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Banc of California by 939.7% in the first quarter. Wellington Management Group LLP now owns 1,915,231 shares of the bank’s stock worth $39,645,000 after buying an additional 1,731,026 shares in the last quarter. EJF Capital LLC bought a new stake in shares of Banc of California during the first quarter worth approximately $21,011,000. Victory Capital Management Inc. boosted its stake in shares of Banc of California by 18,754.8% in the first quarter. Victory Capital Management Inc. now owns 802,649 shares of the bank’s stock worth $16,615,000 after buying an additional 798,392 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of Banc of California during the first quarter worth approximately $9,763,000.

About Banc of California

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

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