Banc of California (NYSE:BANC) Stock Price Crosses Above Two Hundred Day Moving Average of $14.38

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Shares of Banc of California Inc (NYSE:BANC) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.38 and traded as high as $16.33. Banc of California shares last traded at $16.31, with a volume of 20,369 shares changing hands.

Several analysts have recently commented on the stock. ValuEngine lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Sandler O’Neill lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Raymond James lowered shares of Banc of California from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Finally, Zacks Investment Research upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, Banc of California has a consensus rating of “Hold” and a consensus price target of $15.50.

The stock’s 50-day moving average is $14.83 and its 200-day moving average is $14.38. The stock has a market cap of $820.23 million, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.17 and a quick ratio of 1.17.

Banc of California (NYSE:BANC) last announced its earnings results on Wednesday, October 23rd. The bank reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.68). Banc of California had a return on equity of 7.67% and a net margin of 4.79%. The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $69.70 million. During the same quarter last year, the business posted $0.07 EPS. The firm’s revenue was down 19.4% compared to the same quarter last year. Analysts predict that Banc of California Inc will post 0.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. Banc of California’s dividend payout ratio (DPR) is currently 48.98%.

In other news, CEO Jared M. Wolff bought 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $15.18 per share, for a total transaction of $250,470.00. Following the completion of the transaction, the chief executive officer now owns 152,872 shares in the company, valued at $2,320,596.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.06% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY raised its stake in Banc of California by 8.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 14,828 shares of the bank’s stock worth $210,000 after purchasing an additional 1,101 shares during the period. California State Teachers Retirement System raised its stake in Banc of California by 1.2% during the third quarter. California State Teachers Retirement System now owns 70,605 shares of the bank’s stock worth $998,000 after purchasing an additional 843 shares during the period. Mason Street Advisors LLC raised its stake in Banc of California by 6.6% during the third quarter. Mason Street Advisors LLC now owns 15,232 shares of the bank’s stock worth $215,000 after purchasing an additional 941 shares during the period. Monarch Partners Asset Management LLC purchased a new position in Banc of California during the third quarter worth approximately $508,000. Finally, Russell Investments Group Ltd. raised its stake in Banc of California by 9,099.7% during the third quarter. Russell Investments Group Ltd. now owns 367,068 shares of the bank’s stock worth $5,190,000 after purchasing an additional 363,078 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Banc of California Company Profile (NYSE:BANC)

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.

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