Several other equities research analysts also recently commented on BANC. Zacks Investment Research upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Sandler O’Neill downgraded shares of Banc of California from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Raymond James downgraded shares of Banc of California from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, Banc of California has an average rating of “Hold” and an average price target of $17.00.
BANC opened at $14.17 on Thursday. The company’s 50 day moving average is $14.40 and its 200-day moving average is $14.28. Banc of California has a 1-year low of $12.22 and a 1-year high of $17.66. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 2.76. The company has a market cap of $764.20 million, a P/E ratio of 28.92, a PEG ratio of 1.64 and a beta of 1.33.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Banc of California by 1.2% during the 2nd quarter. BlackRock Inc. now owns 6,687,276 shares of the bank’s stock worth $93,420,000 after buying an additional 80,966 shares during the period. Vanguard Group Inc. raised its holdings in Banc of California by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,939,206 shares of the bank’s stock worth $41,061,000 after purchasing an additional 29,563 shares during the last quarter. Investment Counselors of Maryland LLC raised its holdings in Banc of California by 6.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,460,567 shares of the bank’s stock worth $20,404,000 after purchasing an additional 93,388 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Banc of California by 15.0% during the 2nd quarter. William Blair Investment Management LLC now owns 806,573 shares of the bank’s stock worth $11,268,000 after purchasing an additional 105,327 shares during the last quarter. Finally, United Services Automobile Association raised its holdings in Banc of California by 5.9% during the 2nd quarter. United Services Automobile Association now owns 694,771 shares of the bank’s stock worth $9,706,000 after purchasing an additional 38,408 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
Banc of California Company Profile
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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