Investors Should Take Note Of Banc of California Inc (BANC)

Banc of California Inc (BANC) concluded trading on Wednesday at a closing price of $12.74, with 3.37 million shares of worth about $42.99 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.19% during that period and on Wednesday February 7 the price saw a loss of about -1.47%. Currently the company’s common shares owned by public are about 169.43M shares, out of which, 148.36M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 44 times over the past 12 months. They bought 256,722 shares in 28 of the transactions. In 16 selling transactions, insiders dumped 63,675 shares.

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Stock saw a price change of -7.55% in past 5 days and over the past one month there was a price change of -2.00%. Year-to-date (YTD), BANC shares are showing a performance of -5.14% which decreased to -27.41% 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 2.82 million. The stock is currently trading -4.10% below its 20-day simple moving average (SMA20), while that difference is down -2.58% for SMA50 and it goes to 3.22% higher than SMA200.

Banc of California Inc (NYSE: BANC) currently have 169.43M outstanding shares and institutions hold larger chunk of about 40.59% of that.

The stock has a current market capitalization of $2.16B and its 3Y-monthly beta is at 1.14. It has posted earnings per share of -$3.16 in the same period. It has a debt-to-equity ratio of 1.13. 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 6.58% while standing at 4.24% over the month.

Analysts are in expectations that Banc of California Inc (BANC) stock would likely to be making an EPS of $0.29 in the current quarter, while forecast for next quarter EPS is $0.34 and it is $2.03 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.25 which is $0.33 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 $0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 105.90% while it is estimated to increase by 52.20% in next year.

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.

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