KBW Sticks to Its Hold Rating for Banc of California


In a report issued on July 9, Jacquelynne Bohlen from KBW reiterated a Hold rating on Banc of California (NYSE: BANC), with a price target of $22. The company’s shares closed yesterday at $19.05.

According to TipRanks.com, Bohlen is a 4-star analyst with an average return of 11.5% and a 66.3% success rate. Bohlen covers the Financial sector, focusing on stocks such as Pacific Mercantile Bancorp, Bank Of Marin Bancorp, and Umpqua Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Banc of California with a $21.50 average price target, which is a 12.9% upside from current levels. In a report issued on June 29, B.Riley FBR also reiterated a Hold rating on the stock with a $19 price target.

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The company has a one-year high of $23.40 and a one-year low of $17.10. Currently, Banc of California has an average volume of 537.7K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

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Banc of California, Inc. is a financial holding company, which engages in the provision of commercial banking services. It offers deposit and banking products and services, automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, card payment services, remote and mobile deposit capture, automated clearing house origination, wire transfer, direct deposit, and safe deposit boxes. The company was founded on March 25, 2002 and is headquartered in Santa Ana, CA.

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