Banc of California Inc (BANC) Releases Earnings Results, Beats Expectations By $0.06 EPS

Banc of California Inc (BANC) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.40. Analysts expectations of $131.84 million. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Banc of California Inc. FBR Capital Initiated Banc of California Inc on Jul 1, 2016 to “Mkt Perform”, Price Target of the shares are set at $20.Banc of California Inc was Upgraded by Raymond James to ” Outperform” on May 4, 2016. Banc of California Inc was Initiated by Wells Fargo to “Outperform” on May 2, 2016.

Banc of California Inc (BANC) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $19.88 and reached the intraday high at $19.95. The bulls started the profit booking and pushed the shares to intraday low of $19.6383. The trading session was marked by a volume range of 3,01,032 shares exchanging hands. The 52-week high of the shares is $20.85 and the 52-week low is $11.71. The market cap of the company stands at $874 M and there are 4,40,07,994 shares in public circulation.

In a different news, on Jul 6, 2016, Jeffrey T Seabold (EVP, CHIEF BANKING OFFICER) sold 59,225 shares at $19.40 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.

Banc of California Inc

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