1 week Ago By ABMN Staff
Banc of California ( NYSE:BANC – Free Report ) had its price target decreased by Barclays from $19.00 to $18.00 in a report released on Tuesday, Benzinga reports.
Barclays currently has an overweight rating on the bank’s stock. Several other brokerages have also recently issued reports on BANC. StockNews.
com raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. assumed coverage on shares of Banc of California in a research note on Friday, February 7th.
They set a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company raised Banc of California from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.
00 to $20.00 in a report on Monday, January 6th. Stephens dropped their target price on Banc of California from $18.
00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Raymond James raised their price target on Banc of California from $17.
00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock.
Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.09.
Get Our Latest Research Report on BANC Banc of California Price Performance Banc of California ( NYSE:BANC – Get Free Report ) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.
23 by $0.05. Banc of California had a return on equity of 6.
20% and a net margin of 7.06%. On average, analysts predict that Banc of California will post 1.
31 EPS for the current year. Banc of California Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.
10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.
40 dividend on an annualized basis and a yield of 3.35%. Banc of California’s payout ratio is 71.
43%. Institutional Trading of Banc of California Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Banc of California by 5.
8% during the 3rd quarter. FMR LLC now owns 20,659 shares of the bank’s stock worth $304,000 after purchasing an additional 1,126 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Banc of California by 12.
2% during the 3rd quarter. Quadrature Capital Ltd now owns 19,117 shares of the bank’s stock valued at $281,000 after buying an additional 2,080 shares during the last quarter. Weiss Asset Management LP purchased a new position in Banc of California during the third quarter worth $489,000.
Wellington Management Group LLP acquired a new position in shares of Banc of California in the third quarter worth $21,207,000. Finally, XTX Topco Ltd purchased a new stake in shares of Banc of California in the third quarter valued at $1,136,000. Hedge funds and other institutional investors own 86.
88% of the company’s stock. About Banc of California ( Get Free Report ) Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.
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