Banc of California Inc (BANC) Releases Earnings Results, Beats Expectations By $0.17 EPS

Banc of California Inc (BANC) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. BANC said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.42. Analysts expectations of $142.95 million. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Banc of California Inc. Banc of California Inc was Downgraded by FIG Partners to ” Underperform” on Aug 17, 2016.

Banc of California Inc closed down -0.11 points or -0.66% at $16.5 with 12,85,908 shares getting traded on Friday. Post opening the session at $16.73, the shares hit an intraday low of $16.47 and an intraday high of $16.93 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 4, 2016, Jeffrey T Seabold (EXECUTIVE VICE PRESIDENT) sold 39,919 shares at $17.63 per share price. According to the SEC, on Aug 18, 2016, Steven Sugarman (CEO AND CHAIRMAN OF BOARD) purchased 338 shares at $21.96 per share price. On Dec 18, 2015, J. Francisco A. Turner (EVP, CHIEF STRATEGY OFFICER) sold 2,800 shares at $14.03 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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