The stock of Banc of California Inc. (NYSE:BANC) decreased by -$0.15 on Friday to finish at $13.54, down -1.10 percent. The last five days have seen an average of 1,206,680 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$2.39. The average number of shares traded over the last 20 days was 1,988,205, while the average volume over the last 50 days totaled 1,075,796.
BANC stock appreciated 9.19% since last month. On 07/14/23, the company’s shares reached a one-month low of $12.01. The stock touched a high of $18.41 on 02/14/23, after rallying from a low of $9.72 in 52 weeks. The price of BANC stock has declined by -15.00% or -$2.39 this year, reaching a new high 12 times. Still, the stock price is down -26.45% from the 52-week high.
Insider Transactions
BANC stock investors should be aware that Banc of California Inc. (BANC) stock had its last reported insider trading activity 70 days ago on Jun 05. On Jun 05, Director Rice Joseph J acquired 7,500 shares at $11.25 each. This transaction resulted in the insider spending $84,375. On May 03, SZNEWAJS ROBERT D added 3,200 shares at a price of US$10.96. After the transaction, the insider now owns 81,008 shares. PRESIDENT AND CEO WOLFF JARED M had earlier bought 6,769 shares on May 01 for $11.10 a share. The transaction was completed for $75,118.
Valuation Metrics
Banc of California Inc. (BANC) has a trailing price-to-earnings (P/E) ratio of 9.60. Beta for the stock is 1.27. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.86, the price-to-book (PB) ratio of 0.82, and the price-to-cash flow ratio of 7.59.
Company paid $0.10 per share in dividends, remained unchanged from $0.10 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.29, and the total debt to equity ratio is 0.29. Banc of California Inc.’s operating margin stood at 70.50% for the same period. Based on annual data, it had gross profit of $314.37 million and revenue of $372.77 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BANC’s return on assets (ROA) during the last 12 months has been 0.90%. There was a 24.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 8.80%.
Earnings Surprise
According to Banc of California Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Banc of California Inc.’s quarterly earnings would be $0.31, but it ended up being $0.3, beating the consensus by 3.30%. At the end of Banc of California Inc.’s most recent quarter ended June 29, its total debt was $1.46 billion. Equity owned by shareholders amounts to $57.43 million.
Technical Picture
Here’s a quick look at Banc of California Inc.’s (BANC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 47.39%, suggesting the stock is Neutral, with a 20.33% historical volatility rate.
The stochastic %K and %D were 35.84% and 39.51% respectively, while the average true range (ATR) was 0.57. Based on the 14-day stochastic reading of 34.03%, the RSI (14) reading is 52.97%. On the 9-day MACD Oscillator, the stock is at -0.23, and the 14-day reading is at -0.45.
Analyst Ratings
Banc of California Inc. (NYSE: BANC) was downgraded by Keefe Bruyette to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Banc of California Inc. (BANC) an Overweight rating. BANC is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is BANC’s price target for the next 12 months?
The current consensus forecast for the stock is between $16.00 and $21.50, with a median target price of $20.00. In analyzing these forecasts, the average price target given by analysts for Banc of California Inc. (BANC) is $19.25.
