Press coverage about Banc of California (NYSE:BANC) has trended somewhat positive recently, Accern reports. The research group identifies positive and negative news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Banc of California earned a coverage optimism score of 0.02 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 46.0166497890318 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Venture West Funding Arranges $50.90 Million in Loans on Two Los Angeles, CA, Apartment Buildings (enhancedonlinenews.com)
- Form 4 BANC OF CALIFORNIA, INC. For: Nov 30 Filed by: Grosvenor John C. (streetinsider.com)
- $84.13 Million in Sales Expected for Banc of California, Inc. (BANC) This Quarter (americanbankingnews.com)
- Banc of California (BANC) Rating Lowered to Buy at ValuEngine (americanbankingnews.com)
- VANESSA RIVERA v. UHS OF DELAWARE INC DBA (caselaw.findlaw.com)
A number of brokerages have commented on BANC. ValuEngine downgraded Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub downgraded Banc of California from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. FBR & Co reiterated a “buy” rating and issued a $24.00 price objective on shares of Banc of California in a research report on Thursday, October 26th. Zacks Investment Research upgraded Banc of California from a “strong sell” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Keefe, Bruyette & Woods set a $20.00 price objective on Banc of California and gave the stock a “hold” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $22.67.
Banc of California (NYSE:BANC) last issued its earnings results on Thursday, October 26th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Banc of California had a return on equity of 11.78% and a net margin of 15.48%. The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $84.24 million. During the same period in the prior year, the firm posted $0.59 EPS. research analysts predict that Banc of California will post 0.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.39%. Banc of California’s payout ratio is presently 45.61%.
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Banc of California Company Profile
Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.
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