Banc of California, Inc. (NYSE:BANC) has earned a consensus rating of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $21.33.

A number of research firms have recently weighed in on BANC. BidaskClub raised shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods set a $22.00 target price on shares of Banc of California and gave the stock a “hold” rating in a research report on Thursday, July 6th. Finally, ValuEngine raised shares of Banc of California from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th.

In other news, CEO Douglas H. Bowers acquired 57,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $17.56 per share, with a total value of $1,000,920.00. Following the transaction, the chief executive officer now owns 92,000 shares of the company’s stock, valued at approximately $1,615,520. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.89% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Searle & CO. bought a new position in Banc of California during the 2nd quarter valued at about $686,000. Great Lakes Advisors LLC lifted its stake in Banc of California by 104.6% during the 2nd quarter. Great Lakes Advisors LLC now owns 181,789 shares of the bank’s stock valued at $3,908,000 after acquiring an additional 92,943 shares during the period. FSI Group LLC bought a new position in Banc of California during the 2nd quarter valued at about $3,225,000. EJF Capital LLC bought a new position in Banc of California during the 1st quarter valued at about $21,011,000. Finally, Victory Capital Management Inc. lifted its stake in Banc of California by 39.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,115,596 shares of the bank’s stock valued at $23,985,000 after acquiring an additional 312,947 shares during the period.

TRADEMARK VIOLATION NOTICE: “Banc of California, Inc. (BANC) Given Consensus Recommendation of “Buy” by Analysts” was published by American Banking News and is owned by of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/12/banc-of-california-inc-banc-given-consensus-recommendation-of-buy-by-analysts.html.

Banc of California (NYSE:BANC) traded down 0.73% on Thursday, hitting $20.50. 328,271 shares of the company’s stock were exchanged. The stock has a market cap of $980.84 million, a P/E ratio of 13.71 and a beta of 0.99. The firm has a 50 day moving average price of $19.38 and a 200-day moving average price of $20.45. Banc of California has a 52-week low of $10.93 and a 52-week high of $23.25.

Banc of California (NYSE:BANC) last released its earnings results on Wednesday, July 26th. The bank reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.04). The business had revenue of $81.21 million during the quarter, compared to analysts’ expectations of $97.94 million. Banc of California had a return on equity of 14.44% and a net margin of 17.12%. During the same period in the prior year, the company earned $0.46 earnings per share. Analysts predict that Banc of California will post $0.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, September 14th. Banc of California’s dividend payout ratio (DPR) is 34.67%.

Banc of California Company Profile

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.

Receive News & Ratings for Banc of California Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California Inc. and related companies with MarketBeat.com's FREE daily email newsletter.