Ready to Jump After Recent Trade: Banc of California Inc. (BANC)

Banc of California Inc. (NYSE: BANC) stock jumped 3.32% on Tuesday to $11.52 against a previous-day closing price of $11.15. With 0.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.66 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $11.87 whereas the lowest price it dropped to was $11.26. The 52-week range on BANC shows that it touched its highest point at $19.26 and its lowest point at $9.72 during that stretch. It currently has a 1-year price target of $16.25. With its current market cap of 678.30 million, BANC has annualized dividend of $0.40 while the current yield stands at 3.47%. Beta for the stock currently stands at 1.23.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BANC was up-trending over the past week, with a rise of 13.39%, but this was down by -3.76% over a month. Three-month performance dropped to -35.10% while six-month performance fell -30.22%. The stock lost -34.69% in the past year, while it has lost -27.68% so far this year. A look at the trailing 12-month EPS for BANC yields 1.54 with Next year EPS estimates of 1.43. For the next quarter, that number is 0.31. This implies an EPS growth rate of 99.50% for this year and 8.50% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 26.40%.

Float and Shares Shorts:

At present, 59.01 million BANC shares are outstanding with a float of 55.30 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.53 million, which was 2.61% higher than short shares on Mar 30, 2023. In addition to Mr. Jared M. Wolff as the firm’s Pres, CEO & Chairman, Mr. Ido Dotan J.D. serves as its Exec. VP, Gen. Counsel, Corp. Sec. & Chief Admin. Officer.

Institutional Ownership:

Through their ownership of 94.32% of BANC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.59% of BANC, in contrast to 42.69% held by mutual funds. Shares owned by individuals account for 16.29%. As the largest shareholder in BANC with 13.78% of the stake, BlackRock Fund Advisors holds 8,065,931 shares worth 8,065,931. A second-largest stockholder of BANC, Dimensional Fund Advisors LP, holds 4,135,355 shares, controlling over 7.06% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in BANC, holding 4,021,446 shares or 6.87% stake. With a 6.83% stake in BANC, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,000,843 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.65% of BANC stock, is the second-largest Mutual Fund holder. It holds 1,550,511 shares valued at 17.6 million. iShares Russell 2000 ETF holds 1.95% of the stake in BANC, owning 1,141,122 shares worth 12.95 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BANC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BANC analysts setting a high price target of $20.00 and a low target of $14.00, the average target price over the next 12 months is $16.92. Based on these targets, BANC could surge 73.61% to reach the target high and rise by 21.53% to reach the target low. Reaching the average price target will result in a growth of 46.88% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BANC stock several times over the past three months with 8 Buys and 16 Sells. In these transactions, 80,512 shares were bought while 63,675 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 186,097 while 69,259 shares were sold.

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