Banc Of California Inc (NYSE:BANC): Stock Sentiment

January 23, 2018 - By Maria Brooks

 Banc Of California Inc (NYSE:BANC): Stock Sentiment

Sentiment for Banc Of California Inc (NYSE:BANC)

Banc Of California Inc (NYSE:BANC) institutional sentiment decreased to 0.98 in Q3 2017. Its down -0.05, from 1.03 in 2017Q2. The ratio has worsened, as 83 investment professionals started new and increased stock positions, while 85 cut down and sold their stock positions in Banc Of California Inc. The investment professionals in our partner’s database now hold: 59.57 million shares, up from 55.06 million shares in 2017Q2. Also, the number of investment professionals holding Banc Of California Inc in their top 10 stock positions increased from 7 to 8 for an increase of 1. Sold All: 25 Reduced: 60 Increased: 53 New Position: 30.

Banc of California, Inc. operates as the bank holding firm for Banc of California, National Association that provides banking services and products in the United States. The company has market cap of $1.04 billion. It operates through Commercial Banking and Mortgage Banking divisions. It has a 19.06 P/E ratio. The companyÂ’s deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration guaranteed business loans, construction and renovation loans, lease financing, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.

The stock decreased 0.58% or $0.125 during the last trading session, reaching $21.575. About 284,319 shares traded. Banc of California, Inc. (NYSE:BANC) has risen 6.54% since January 23, 2017 and is uptrending. It has underperformed by 10.16% the S&P500.

Analysts await Banc of California, Inc. (NYSE:BANC) to report earnings on January, 29. They expect $0.23 earnings per share, down 57.41 % or $0.31 from last year’s $0.54 per share. BANC’s profit will be $11.04 million for 23.45 P/E if the $0.23 EPS becomes a reality. After $0.25 actual earnings per share reported by Banc of California, Inc. for the previous quarter, Wall Street now forecasts -8.00 % negative EPS growth.

Patriot Financial Partners Gp Lp holds 26.58% of its portfolio in Banc of California, Inc. for 2.85 million shares. Pl Capital Advisors Llc owns 3.40 million shares or 18.12% of their US portfolio. Moreover, Endicott Management Co has 12.24% invested in the company for 1.00 million shares. The Texas-based Clover Partners L.P. has invested 5.83% in the stock. Ranger Investment Management L.P., a Texas-based fund reported 2.45 million shares.#img1#

Banc of California, Inc. (NYSE:BANC) Ratings Coverage

Ratings analysis reveals 78% of Banc of California’s analysts are positive. Out of 9 Wall Street analysts rating Banc of California, 7 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $16 while the high is $26.0. The stock’s average target of $23.14 is 7.25% above today’s ($21.575) share price. BANC was included in 21 notes of analysts from November 9, 2015. Keefe Bruyette & Woods maintained Banc of California, Inc. (NYSE:BANC) on Thursday, September 28 with “Hold” rating. The firm earned “Hold” rating on Monday, June 5 by Keefe Bruyette & Woods. The stock of Banc of California, Inc. (NYSE:BANC) earned “Hold” rating by Keefe Bruyette & Woods on Thursday, July 6. The rating was upgraded by Wells Fargo on Tuesday, April 11 to “Outperform”. Keefe Bruyette & Woods maintained it with “Hold” rating and $23.0 target in Thursday, December 21 report. Piper Jaffray initiated Banc of California, Inc. (NYSE:BANC) rating on Thursday, December 21. Piper Jaffray has “Buy” rating and $26.0 target. The stock has “Hold” rating by Keefe Bruyette & Woods on Monday, August 28. The rating was maintained by FBR Capital with “Outperform” on Thursday, May 4. The firm has “Market Perform” rating given on Friday, May 5 by Wood. Raymond James downgraded the shares of BANC in report on Monday, November 9 to “Mkt Perform” rating.

More recent Banc of California, Inc. (NYSE:BANC) news were published by: Prnewswire.com which released: “Banc of California Announces Schedule of Fourth Quarter and Full Year 2017 …” on January 16, 2018. Also Prnewswire.com published the news titled: “Banking Stocks’ Research Reports Released on Pacific Premier, Zions, Banc of …” on January 23, 2018. Prnewswire.com‘s news article titled: “Lifshitz & Miller LLP Announces Investigation of Banc of California, Inc …” with publication date: December 28, 2017 was also an interesting one.

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