At the time of writing, Banc of California Inc [BANC] stock is trading at $15.11, up 3.28%. An important factor to consider is whether the stock is rising or falling in short-term value. The BANC shares have gain 3.07% over the last week, with a monthly amount glided 12.34%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Banc of California Names Venture Banking Leader Michael David to New Role as Head of Technology Banking-West. In a post published today on Yahoo Finance, Banc of California, Inc. (NYSE: BANC) today announced that Michael David has joined its wholly owned subsidiary, Banc of California, California’s premier relationship-focused business bank, in the newly created role of executive vice president for Technology Banking-West, part of the Venture Banking group. David, formerly with Bridge Bank, will be based in Menlo Park, California, and report to Sean Lynden, president of the Venture Banking group.
From an analyst’s perspective:
Banc of California Inc [NYSE: BANC] stock has seen the most recent analyst activity on December 04, 2023, when Truist initiated its Hold rating and assigned the stock a price target of $14. Previously, Wells Fargo downgraded its rating to Equal Weight on October 04, 2023, and dropped its price target to $13.50. On July 31, 2023, downgrade downgraded it’s rating to Mkt Perform but maintained its price target of $16 on the stock. Raymond James downgraded its rating to a Mkt Perform. Raymond James upgraded its rating to a Outperform but $20 remained the price target by the analyst firm on July 23, 2021. Stephens started tracking with a Equal-Weight rating for this stock on July 08, 2021, and assigned it a price target of $19. In a note dated March 24, 2021, Keefe Bruyette upgraded an Outperform rating on this stock but restated the target price of $24.
For the past year, the stock price of Banc of California Inc fluctuated between $9.72 and $17.52. Currently, Wall Street analysts expect the stock to reach $22 within the next 12 months. Banc of California Inc [NYSE: BANC] shares were valued at $15.11 at the most recent close of the market. An investor can expect a potential return of 45.6% based on the average BANC price forecast.
Analyzing the BANC fundamentals
According to Banc of California Inc [NYSE:BANC], the company’s sales were 424.59M for trailing twelve months, which represents an -34.91% plunge. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.39%, Pretax Profit Margin comes in at -1.49%, and Net Profit Margin reading is -1.09%. To continue investigating profitability, this company’s Return on Assets is posted at -0.01, Equity is -0.26 and Total Capital is 0.01. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.13.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 14.66 points at the first support level, and at 14.22 for the second support level. However, for the 1st resistance point, the stock is sitting at 15.40, and for the 2nd resistance point, it is at 15.70.
Banc of California Inc [BANC] reported earnings per share of $1.49 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.08/share, meaning a difference of $1.57 and a surprise factor of 1,962.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.3 per share as compared to estimates of $0.3 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
It is important to note that Banc of California Inc [NYSE:BANC] has a current ratio of 0.20. Considering the valuation of this stock, the price to sales ratio is 5.98, the price to book ratio is 0.88.
Transactions by insiders
Recent insider trading involved LASHLEY RICHARD J, Director, that happened on Mar 01 when 15000.0 shares were purchased. Director, LASHLEY RICHARD J completed a deal on Feb 29 to buy 10000.0 shares. Meanwhile, Director Barker James Andrew bought 10000.0 shares on Feb 14.
