Banc of California Inc (NYSE: BANC)’s stock price has gone rise by 2.14 in comparison to its previous close of 14.94, however, the company has experienced a -3.17% decrease in its stock price over the last five trading days. zacks.com reported 2024-10-24 that Does Banc of California (BANC) have what it takes to be a top stock pick for momentum investors? Let’s find out.
Is It Worth Investing in Banc of California Inc (NYSE: BANC) Right Now?
Additionally, the 36-month beta value for BANC is 1.13. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for BANC is 137.99M and currently, short sellers hold a 6.52% ratio of that float. The average trading volume of BANC on November 06, 2024 was 2.04M shares.
BANC’s Market Performance
BANC stock saw an increase of -3.17% in the past week, with a monthly gain of 11.71% and a quarterly increase of 19.13%. The volatility ratio for the week is 3.00%, and the volatility levels for the last 30 days are 3.02% for Banc of California Inc (BANC). The simple moving average for the past 20 days is 0.94% for BANC’s stock, with a 8.46% simple moving average for the past 200 days.
Analysts’ Opinion of BANC
Many brokerage firms have already submitted their reports for BANC stocks, with Barclays repeating the rating for BANC by listing it as a “Overweight.” The predicted price for BANC in the upcoming period, according to Barclays is $18 based on the research report published on October 31, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see BANC reach a price target of $15. The rating they have provided for BANC stocks is “Neutral” according to the report published on October 10th, 2024.
Wedbush gave a rating of “Outperform” to BANC, setting the target price at $18 in the report published on September 24th of the current year.
BANC Trading at 4.26% 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 -4.68% of loss for the given period.
Volatility was left at 3.02%, however, over the last 30 days, the volatility rate increased by 3.00%, as shares surge +10.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.39% upper at present.
During the last 5 trading sessions, BANC fell by -3.17%, which changed the moving average for the period of 200-days by +16.05% in comparison to the 20-day moving average, which settled at $15.12. In addition, Banc of California Inc saw 13.63% 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 LASHLEY RICHARD J, who sale 125,000 shares at the price of $14.20 back on Sep 05 ’24. After this action, LASHLEY RICHARD J now owns 668,939 shares of Banc of California Inc, valued at $1,774,625 using the latest closing price.
LASHLEY RICHARD J, the Director of Banc of California Inc, sale 75,000 shares at $14.00 during a trade that took place back on Sep 04 ’24, which means that LASHLEY RICHARD J is holding 719,826 shares at $1,050,300 based on the most recent closing price.
Stock Fundamentals for BANC
Current profitability levels for the company are sitting at:
- -0.18 for the present operating margin
- 0.84 for the gross margin
The net margin for Banc of California Inc stands at -0.27. The total capital return value is set at -0.01. Equity return is now at value -17.41, with -1.83 for asset returns.
Based on Banc of California Inc (BANC), the company’s capital structure generated 0.42 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at 0.72. The interest coverage ratio of the stock is -0.34.
Currently, EBITDA for the company is 45.66 million with net debt to EBITDA at 6101.91. When we switch over and look at the enterprise to sales, we see a ratio of 3.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.20.
Conclusion
In conclusion, Banc of California Inc (BANC) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as 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.
