Banc of California Inc (BANC) was Upgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on Banc of California Inc. Banc of California Inc was Initiated by Wells Fargo to “Outperform” on May 2, 2016. Banc of California Inc was Upgraded by Keefe Bruyette to ” Outperform” on Apr 22, 2016.
On the company’s financial health, Banc of California Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.31.Analysts expectations of $ 113.23.During the same quarter in the previous year, the company posted $0.29 EPS.
Banc of California Inc opened for trading at $20.5 and hit $20.6 on the upside on Monday, eventually ending the session at $20.51, with a gain of 0.79% or 0.16 points. The heightened volatility saw the trading volume jump to 4,40,159 shares. Company has a market cap of $787 M.
In a different news, on Mar 14, 2016, Jeffrey T Seabold (EVP, CHIEF BANKING OFFICER) sold 76,289 shares at $15.16 per share price. According to the SEC, on Dec 18, 2015, J. Francisco A. Turner (EVP, CHIEF STRATEGY OFFICER) sold 2,800 shares at $14.03 per share price. On Aug 24, 2015, Steven Sugarman (CEO) purchased 35,000 shares at $12.21 per share price, according to the Form-4 filing with the securities and exchange commission.
Banc of California Inc. is a financial holding company. The Company is the parent of Banc of California National Association (the Bank) The Palisades Group LLC (The Palisades Group) and PTB Property Holdings LLC (PTB). The Company engages in activities permissible for bank holding companies and in other activities that are financial in nature or incidental or complementary to activities that are financial in nature primarily securities insurance and merchant banking activities. The Bank offers a variety of financial services to meet the banking and financial needs of the communities it serves with operations conducted through 37 banking offices serving San Diego Los Angeles and Orange counties California and 67 loan production offices in California Arizona Oregon Virginia Indiana Maryland Colorado Idaho and Nevada.