The 36-month beta value for BANC is at 1.18. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for BANC is 153.46M, and currently, shorts hold a 6.85% of that float. The average trading volume for BANC on May 08, 2024 was 2.30M shares.
BANC) stock’s latest price update
The stock of Banc of California Inc (NYSE: BANC) has increased by 0.34 when compared to last closing price of 14.79. Despite this, the company has experienced a 8.40% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-26 that Banc of California Inc (NYSE:BANC ) Q1 2024 Results Conference Call April 23, 2024 1:00 PM ET Company Participants Jared Wolff – Vice Chairman, President & CEO Joseph Kauder – Executive VP & CFO Conference Call Participants Jared Shaw – Barclays Matthew Clark – Piper Sandler Chris McGratty – KBW Timur Braziler – Wells Fargo Gary Tenner – D.A. Davidson Andrew Terrell – Stephens Timothy Coffey – Janney Brandon King – Truist Securities David Feaster – Raymond James Operator Hello, and welcome to Banc of California’s First Quarter Earnings Conference Call.
BANC’s Market Performance
Banc of California Inc (BANC) has seen a 8.40% rise in stock performance for the week, with a -0.60% decline in the past month and a 14.77% surge in the past quarter. The volatility ratio for the week is 2.02%, and the volatility levels for the past 30 days are at 2.73% for BANC. The simple moving average for the last 20 days is 4.97% for BANC stock, with a simple moving average of 12.39% for the last 200 days.
Analysts’ Opinion of BANC
Many brokerage firms have already submitted their reports for BANC stocks, with Keefe Bruyette repeating the rating for BANC by listing it as a “Outperform.” The predicted price for BANC in the upcoming period, according to Keefe Bruyette is $18 based on the research report published on March 22, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see BANC reach a price target of $16. The rating they have provided for BANC stocks is “Equal Weight” according to the report published on March 08th, 2024.
Truist gave a rating of “Hold” to BANC, setting the target price at $14 in the report published on December 04th of the previous year.
BANC Trading at 2.74% from the 50-Day Moving Average
After a stumble in the market that brought BANC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.71% of loss for the given period.
Volatility was left at 2.73%, however, over the last 30 days, the volatility rate increased by 2.02%, as shares sank -1.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.07% upper at present.
During the last 5 trading sessions, BANC rose by +8.40%, which changed the moving average for the period of 200-days by +16.03% in comparison to the 20-day moving average, which settled at $14.13. In addition, Banc of California Inc saw 10.50% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BANC starting from WOLFF JARED M, who purchase 7,130 shares at the price of $13.98 back on Apr 25 ’24. After this action, WOLFF JARED M now owns 268,695 shares of Banc of California Inc, valued at $99,677 using the latest closing price.
LASHLEY RICHARD J, the Director of Banc of California Inc, purchase 7,500 shares at $14.47 during a trade that took place back on Mar 14 ’24, which means that LASHLEY RICHARD J is holding 2,485,643 shares at $108,562 based on the most recent closing price.
Stock Fundamentals for BANC
Current profitability levels for the company are sitting at:
- -0.61 for the present operating margin
- 1.0 for the gross margin
The net margin for Banc of California Inc stands at -0.73. The total capital return value is set at -0.01. Equity return is now at value -17.63, with -1.67 for asset returns.
Based on Banc of California Inc (BANC), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.04. The debt to equity ratio resting at 0.9. The interest coverage ratio of the stock is -1.58.
Currently, EBITDA for the company is 45.66 million with net debt to EBITDA at -0.12. When we switch over and look at the enterprise to sales, we see a ratio of 4.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.24.
Conclusion
In conclusion, Banc of California Inc (BANC) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
