Mary A. Curran Buys 5,000 Shares of Banc of California, Inc. (NYSE:BANC) Stock

Banc of California, Inc. (NYSE:BANC) Director Mary A. Curran purchased 5,000 shares of the stock in a transaction dated Tuesday, May 11th. The stock was acquired at an average cost of $17.56 per share, for a total transaction of $87,800.00. Following the completion of the transaction, the director now owns 14,161 shares of the company’s stock, valued at approximately $248,667.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Banc of California stock traded down $0.25 during mid-day trading on Wednesday, hitting $17.15. The stock had a trading volume of 218,907 shares, compared to its average volume of 260,235. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.06. Banc of California, Inc. has a 12 month low of $8.10 and a 12 month high of $21.40. The stock has a market capitalization of $868.03 million, a PE ratio of -91.58, a P/E/G ratio of 2.16 and a beta of 1.85. The stock has a 50-day simple moving average of $18.18 and a two-hundred day simple moving average of $16.73.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Wednesday, April 21st. The bank reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. Banc of California had a return on equity of 3.88% and a net margin of 1.62%. During the same quarter last year, the company earned ($0.19) EPS. Sell-side analysts expect that Banc of California, Inc. will post 0.23 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on BANC. Zacks Investment Research downgraded Banc of California from a “buy” rating to a “hold” rating in a research report on Friday, March 26th. DA Davidson raised their price target on shares of Banc of California from $20.50 to $22.50 in a research note on Wednesday, March 24th. TheStreet upgraded shares of Banc of California from a “d+” rating to a “c-” rating in a research note on Thursday, January 21st. Janney Montgomery Scott raised Banc of California from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Thursday, February 11th. Finally, B. Riley increased their target price on Banc of California from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, January 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Banc of California has an average rating of “Buy” and an average target price of $20.08.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANC. KBC Group NV acquired a new stake in shares of Banc of California during the fourth quarter worth about $26,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Banc of California during the first quarter worth about $93,000. Trexquant Investment LP acquired a new stake in shares of Banc of California during the fourth quarter worth about $149,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Banc of California during the fourth quarter worth about $150,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Banc of California during the fourth quarter worth about $158,000. 87.42% of the stock is currently owned by institutional investors.

About Banc of California

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.

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