As of Wednesday close, Banc of California Inc.’s (NYSE:BANC) stock was down -$0.33, moving down -2.60 percent to $12.38. The average number of shares traded per day over the past five days has been 1,100,740 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.22 fall in that time frame. In the last twenty days, the average volume was 2,131,125, while in the previous 50 days, it was 1,121,278.
Since last month, BANC stock retreated -2.75%. Shares of the company fell to $12.17 on 07/17/23, the lowest level in the past month. A 52-week high of $18.41 was reached on 02/14/23 after having rallying from a 52-week low of $9.72. Since the beginning of this year, BANC’s stock price has dropped by -22.28% or -$3.55, and marked a new high 12 times. However, the stock has declined by -32.75% since its 52-week high.
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BANC stock investors should be aware that Banc of California Inc. (BANC) stock had its last reported insider trading activity 73 days ago on Jun 05. Rice Joseph J, the Director of the company, purchased of 7,500 shares for $11.25 on Jun 05. It resulted in a $84,375 investment by the insider. SZNEWAJS ROBERT D added 3,200 shares at an average price of $10.96 on May 03. The insider now owns 81,008 shares following the transaction. On May 01, PRESIDENT AND CEO WOLFF JARED M bought 6,769 shares at $11.10 apiece. The transaction was valued at $75,118.
Valuation Metrics
Right now, Banc of California Inc. (BANC) has a P/E ratio of about 8.77. The stock’s beta is 1.28. Besides these, the trailing price-to-sales (P/S) ratio of 1.70, the price-to-book (PB) ratio of 0.75, and the price-to-cash flow ratio of 6.94 may also be considered.
The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.29, and the total debt-to-equity ratio was 0.29. In the year ended June 29, operating margins totaled 70.50%. Based on annual data, BANC earned $314.37 million in gross profit and brought in $372.77 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 24.10%. Return on equity (ROE) for the past 12 months was 8.80%.
In Banc of California Inc.’s quarter-end financial report for June 29, it reported total debt of $1.15 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Banc of California Inc. to report $0.3 quarterly earnings, the actual figure was $0.31 per share, beating the consensus estimate by 3.30%. The value of shareholders’ equity is $57.43 million.
Technical Picture
This quick technical analysis looks at Banc of California Inc.’s (BANC) price momentum. With a historical volatility rate of 26.66%, the RSI 9-day stood at 27.47% on 16 August.
With respect to its five-day moving average, the current Banc of California Inc. price is down by -8.97% percent or -$1.22. At present, BANC shares trade -5.86% below its 20-day simple moving average and +1.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately +8.03% above its SMA50 and -24.28% below its SMA200.
Stochastic coefficient K was 3.00% and Stochastic coefficient D was 14.19%, while ATR was 0.55. Given the Stochastic reading of 0.45% for the 14-day period, the RSI (14) reading has been calculated as 37.81%. As of today, the MACD Oscillator reading stands at -0.73, while the 14-day reading stands at -0.95.
Analyst Ratings
Banc of California Inc. downgraded its rating on Banc of California Inc. (NYSE: BANC) to a Mkt perform in a note to investors on July 31, 2023. The analysts firm previously had an Outperform rating on the stock.Banc of California Inc. (BANC) has been rated Overweight by analysts. According to 0 brokerage firms, BANC is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Banc of California Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $20.00, the current consensus forecast for the stock is $16.00 – $21.50. Based on these forecasts, analysts predict Banc of California Inc. (BANC) will achieve an average price target of $19.25.
