Insider Buying: Banc of California Inc (BANC) Insider Purchases 20,000 Shares of Stock

Banc of California Inc (NYSE:BANC) insider John A. Bogler bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $19.30 per share, with a total value of $386,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Banc of California Inc (NYSE:BANC) opened at $19.15 on Monday. Banc of California Inc has a one year low of $15.90 and a one year high of $23.40. The stock has a market cap of $967.05, a PE ratio of 30.63, a P/E/G ratio of 1.54 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 2.51.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.07. The firm had revenue of $78.87 million during the quarter, compared to the consensus estimate of $84.02 million. Banc of California had a net margin of 13.28% and a return on equity of 9.93%. The business’s revenue for the quarter was down 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. equities analysts predict that Banc of California Inc will post 1.02 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Banc of California from a “hold” rating to a “buy” rating in a research note on Friday. B. Riley downgraded shares of Banc of California from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Thursday. Zacks Investment Research downgraded shares of Banc of California from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 30th. FIG Partners downgraded shares of Banc of California from a “market perform” rating to an “underperform” rating in a research note on Friday, January 26th. Finally, Piper Jaffray Companies assumed coverage on shares of Banc of California in a research note on Thursday, December 21st. They issued an “overweight” rating and a $26.00 target price for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.80.

A number of hedge funds have recently modified their holdings of BANC. Channing Capital Management LLC acquired a new stake in Banc of California during the third quarter worth approximately $48,607,000. Maltese Capital Management LLC lifted its position in Banc of California by 171.4% during the third quarter. Maltese Capital Management LLC now owns 760,000 shares of the bank’s stock worth $15,770,000 after acquiring an additional 480,000 shares during the last quarter. State Street Corp lifted its position in Banc of California by 13.5% during the second quarter. State Street Corp now owns 3,345,022 shares of the bank’s stock worth $71,920,000 after acquiring an additional 397,611 shares during the last quarter. Royal Bank of Canada lifted its position in Banc of California by 991.4% during the second quarter. Royal Bank of Canada now owns 432,541 shares of the bank’s stock worth $9,301,000 after acquiring an additional 392,911 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Banc of California by 35.0% during the third quarter. Victory Capital Management Inc. now owns 1,505,510 shares of the bank’s stock worth $31,240,000 after acquiring an additional 389,914 shares during the last quarter.

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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.

Insider Buying and Selling by Quarter for Banc of California (NYSE:BANC)

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