Banc of California Inc. [BANC] stock Upgrade by Raymond James analyst, price target now $20

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Banc of California Inc. [NYSE: BANC] loss -1.63% or -0.31 points to close at $18.74 with a heavy trading volume of 3994687 shares. The company report on October 19, 2021 that Banc of California Announces the Completion of its Acquisition of Pacific Mercantile Bancorp.

Acquisition creates a business banking franchise in Southern California with over $9 billion in assets.


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Three new independent directors appointed to the Board of Directors.

It opened the trading session at $18.99, the shares rose to $19.465 and dropped to $18.52, the range by which the price of stock traded the whole day. The daily chart for BANC points out that the company has recorded 8.01% gains over the past six months. However, it is still -72.88% lower than its most recent low trading price.

If we look at the average trading volume of 250.39K shares, BANC reached to a volume of 3994687 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Banc of California Inc. [BANC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BANC shares is $21.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BANC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Banc of California Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 23, 2021. While these analysts kept the previous recommendation, Stephens raised their target price to Equal-Weight. The new note on the price target was released on July 08, 2021, representing the official price target for Banc of California Inc. stock. Previously, the target price had yet another raise to $24, while Keefe Bruyette analysts kept a Outperform rating on BANC stock.

The Average True Range (ATR) for Banc of California Inc. is set at 0.65, with the Price to Sales ratio for BANC stock in the period of the last 12 months amounting to 3.48. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 3.98. Price to Free Cash Flow for BANC in the course of the last twelve months was 7.12.

Trading performance analysis for BANC stock

Banc of California Inc. [BANC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.18. With this latest performance, BANC shares gained by 4.99% in over the last four-week period, additionally plugging by 8.01% over the last 6 months – not to mention a rise of 69.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BANC stock in for the last two-week period is set at 48.12, with the RSI for the last a single of trading hit 41.26, and the three-weeks RSI is set at 50.96 for Banc of California Inc. [BANC]. The present Moving Average for the last 50 days of trading for this stock 18.27, while it was recorded at 19.51 for the last single week of trading, and 18.06 for the last 200 days.

Banc of California Inc. [BANC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Banc of California Inc. [BANC] shares currently have an operating margin of +4.67. Banc of California Inc.’s Net Margin is presently recorded at +3.92.

Return on Total Capital for BANC is now 0.72, given the latest momentum, and Return on Invested Capital for the company is 0.76. Return on Equity for this stock inclined to 1.35, with Return on Assets sitting at 0.15. When it comes to the capital structure of this company, Banc of California Inc. [BANC] has a Total Debt to Total Equity ratio set at 91.03. Additionally, BANC Total Debt to Total Capital is recorded at 47.65, with Total Debt to Total Assets ending up at 10.33. Long-Term Debt to Equity for the company is recorded at 94.93, with the Long-Term Debt to Total Capital now at 39.45.

Reflecting on the efficiency of the workforce at the company, Banc of California Inc. [BANC] managed to generate an average of $19,964 per employee.

Banc of California Inc. [BANC]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BANC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Banc of California Inc. go to 10.00%.

An analysis of insider ownership at Banc of California Inc. [BANC]

There are presently around $1,095 million, or 93.07% of BANC stock, in the hands of institutional investors. The top three institutional holders of BANC stocks are: BLACKROCK INC. with ownership of 7,662,575, which is approximately -1.847% of the company’s market cap and around 1.20% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 5,307,740 shares of the stock with an approximate value of $99.47 million in BANC stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $67.14 million in BANC stock with ownership of nearly -3.701% of the company’s market capitalization.

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Positions in Banc of California Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 82 institutional holders increased their position in Banc of California Inc. [NYSE:BANC] by around 5,855,653 shares. Additionally, 71 investors decreased positions by around 3,830,708 shares, while 29 investors held positions by with 48,721,645 shares. The mentioned changes placed institutional holdings at 58,408,006 shares, according to the latest SEC report filing. BANC stock had 14 new institutional investments in for a total of 567,110 shares, while 17 institutional investors sold positions of 1,630,145 shares during the same period.

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