Analyst Rating Update on Banc of California (BANC)

Banc of California (NYSE:BANC) : Zacks Investment Research ranks Banc of California (NYSE:BANC) as 2, which is a Buy recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 2.14, which indicates as a Buy.

Banc of California (NYSE:BANC) : The most positive equity analysts on Banc of California (NYSE:BANC) expects the shares to touch $24, whereas, the least positive believes that the stock will trade at $16 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $20.58 with an expected fluctuation of $2.87 from the mean.

For the current week, the company shares have a recommendation consensus of Buy. Also, UBS initiates coverage on Banc of California (NYSE:BANC) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $24 per share. The rating by the firm was issued on May 23, 2016.

Banc of California (NYSE:BANC): stock turned positive on Tuesday. Though the stock opened at $18.07, the bulls momentum made the stock top out at $18.1123 level for the day. The stock recorded a low of $17.37 and closed the trading day at $17.95, in the green by 1.01%. The total traded volume for the day was 1,093,684. The stock had closed at $17.77 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the (EVP, CHIEF BANKING OFFICER) of Banc Of California, Inc., Seabold Jeffrey T had sold 76,289 shares worth of $1,156,541 in a transaction dated March 10, 2016. In this transaction, 76,289 shares were sold at $15.16 per share.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.