Banc of California Inc (NYSE:BANC) saw unusually large options trading on Thursday. Stock investors acquired 3,155 put options on the stock. This is an increase of approximately 4,609% compared to the average daily volume of 67 put options.
Shares of Banc of California (NYSE:BANC) opened at $20.65 on Friday. Banc of California has a 1 year low of $14.80 and a 1 year high of $23.40. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 2.51. The firm has a market capitalization of $1,030.00, a PE ratio of 32.78, a PEG ratio of 1.47 and a beta of 0.97.
Banc of California (NYSE:BANC) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.07. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The business had revenue of $78.87 million for the quarter, compared to analysts’ expectations of $84.02 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was down 31.7% compared to the same quarter last year. research analysts expect that Banc of California will post 1.16 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. FBR & Co reaffirmed a “buy” rating and issued a $24.00 target price on shares of Banc of California in a research report on Thursday, October 26th. FIG Partners downgraded Banc of California from a “market perform” rating to an “underperform” rating in a research report on Friday. ValuEngine downgraded Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, January 1st. Finally, BidaskClub downgraded Banc of California from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.50.
Several large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in shares of Banc of California in the fourth quarter worth about $103,000. Boston Advisors LLC lifted its stake in shares of Banc of California by 14.5% in the fourth quarter. Boston Advisors LLC now owns 228,383 shares of the bank’s stock worth $4,716,000 after acquiring an additional 28,970 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Banc of California by 20.8% in the fourth quarter. Hennessy Advisors Inc. now owns 465,000 shares of the bank’s stock worth $9,602,000 after acquiring an additional 80,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Banc of California by 2.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 182,827 shares of the bank’s stock worth $3,776,000 after acquiring an additional 3,936 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Banc of California by 18.4% in the third quarter. Public Employees Retirement System of Ohio now owns 111,133 shares of the bank’s stock worth $2,306,000 after acquiring an additional 17,241 shares in the last quarter.
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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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