Wedbush has recently raised Banc of California Inc (BANC) stock to Outperform rating, as announced on September 24, 2024, according to Finviz. Earlier, on September 17, 2024, Raymond James had raised the stock from a Mkt Perform to Outperform, setting a price target of $16. Keefe Bruyette also raised Outperform rating with a price target of $18. Additionally, Barclays initiated Equal Weight rating on March 8, 2024, with a target price of $16. Truist analysts, in their report published on December 4, 2023, also initiated Hold rating for Banc of California Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Banc of California Inc (BANC) Stock Trading Recap
On Tuesday, Banc of California Inc (BANC) stock saw a decline, ending the day at $14.05 which represents a decrease of $-0.68 or -4.62% from the prior close of $14.73. The stock opened at $14.62 and touched a low of $14.03 during the day, reaching a high of $14.65. The volume of shares traded was 2.52 million exceeding the average volume of 2.23 million.
BANC Stock Performance and Moving Averages
In recent trading, Banc of California Inc (BANC) stock price has shown some volatility, fluctuating -6.52% over the last five trades and -1.20% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -2.29%, and it has gained 6.52% in the previous three months. Currently, BANC is trading at -2.73%, 0.40%, and 1.39% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, BANC, a Financial sector stock, is trading -9.61% below its 52-week high but remains 41.06% above its 52-week low. The Average True Range (ATR) (14 days) of 0.45 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Banc of California Inc’s Profitability and Valuation Ratios
Banc of California Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -32.76% and a profit margin of -34.30%, with a gross margin of -2.29%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Banc of California Inc’s market capitalization stands at $2.37 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 10.95. Additionally, the Price-to-Sales Ratio is 1.99, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.81, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 18.31% of Banc of California Inc (BANC)’s shares, while financial institutions hold 82.23%.
Notable insider trades include LASHLEY RICHARD J, Director at Banc of California Inc (BANC), who sold 125000 shares on Sep 05 ’24, at $14.2 each, totaling $1.77 million. On Sep 04 ’24, LASHLEY RICHARD J, Director, sold 75000 shares for $14 each, amounting to $1.05 million. Additionally, on Jan 30 ’24, DYCK ROBERT G sold 10000 shares at $14.97 each, generating $0.15 million.
