Goldman Sachs & Co. LLC has recently announced that it has increased stake in Banc of California Inc (NYSE:BANC) by 1,082.39%. After grabbing 5.05 million shares, the institutional investor is now in possession of 4.62 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.21% having worth around $67.83 million. Moreover, FJ Capital Management LLC increased its share by 1.49 million to have a control over 2.86 million shares. And Geode Capital Management LLC raised its holdings to 50675.0 shares by acquiring 2.72 million shares or 1.73% of the stake.
Banc of California Inc (BANC) concluded trading on Wednesday at a closing price of $13.19, with 3.02 million shares of worth about $39.8 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.78% during that period and On Wednesday, January 24 the price saw a gain of about 1.85%. Currently the company’s common shares owned by public are about 157.98M shares, out of which, 138.29M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 45 times over the past 12 months. They bought 291,722 shares in 29 of the transactions. In 16 selling transactions, insiders dumped 63,675 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Banc of California Inc iShares Core S&P Small Cap ETF is currently holding 7.31 million shares of worth totaling $98.17 million. The company recently came buying 7304.0 shares which brought its stake up to 4.64% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold 5988.0 shares, after which its hold over company’s outstanding shares shrunk to 2.53%, leaving 3.98 million shares with the mutual fund that have a worth of about $53.43 million. iShares Russell 2000 ETF, after selling 3.72 million shares, have now control over 2.36% of the stake in the company. It holds 9846.0 shares of worth $49.98 million.
However, the stock later moved at a day high price of 13.26, or with a gain of 1.85%. Stock saw a price change of 7.06% in past 5 days and over the past one month there was a price change of -1.79%. Year-to-date (YTD), BANC shares are showing a performance of -1.79% which decreased to -21.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.72 but also hit the highest price of $18.26 during that period. The average intraday trading volume for Banc of California Inc shares is 2.71 million. The stock is currently trading 1.37% above its 20-day simple moving average (SMA20), while that difference is up 3.49% for SMA50 and it goes to 7.63% higher than SMA200.
Goldman Sachs & Co. LLC acquired 5.05 million shares of Banc of California Inc having value of about $67.83 million. Data submitted at the U.S SEC by Goldman Sachs & Co. LLC revealed that the firm now holds 4.62 million shares in the company valued at close to $60983134.03, or have control over 1,082.39% stake in the company. Banc of California Inc (NYSE: BANC) currently have 157.98M outstanding shares and institutions hold larger chunk of about 37.89% of that. Holding of mutual funds in the company is about 34.92% while other institutional holders and individual stake holders have control over 43.78% and 16.15% of the stake respectively.
The stock has a current market capitalization of $2.08B and its 3Y-monthly beta is at 1.16. PE ratio of stock for trailing 12 months is 7.53, while it has posted earnings per share of $1.75 in the same period. Its PEG reads 0.75 while making debt-to-equity ratio of 1.49. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BANC, volatility over the week remained 3.32% while standing at 2.81% over the month.
Analysts are in expectations that Banc of California Inc (BANC) stock would likely to be making an EPS of -$0.08 in the current quarter, while forecast for next quarter EPS is $0.29 and it is $1.51 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.49 which is $0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -793.23% while it is estimated to increase by 109.64% in next year. EPS is likely to shrink at an annualized rate of 10.00% for next 5-years, compared to annual growth of 33.90% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Truist on December 04, 2023 offering a Hold rating for the stock and assigned a target price of $14 to it.
