What’s Propelling Banc of California Inc (NYSE:BANC) After Lower Shorts Reported?

May 17, 2018 - By Eva Godbolt

Investors sentiment decreased to 0.78 in Q4 2017. Its down 0.20, from 0.98 in 2017Q3. It worsened, as 22 investors sold Banc of California, Inc. shares while 66 reduced holdings. 26 funds opened positions while 43 raised stakes. 56.03 million shares or 5.95% less from 59.57 million shares in 2017Q3 were reported.
Tennessee-based State Of Tennessee Treasury Department has invested 0% in Banc of California, Inc. (NYSE:BANC). Manufacturers Life Insurance Co The has 32,643 shares. Clover Prtn Lp holds 185,260 shares or 3.64% of its portfolio. Moreover, First Tru Ltd Partnership has 0% invested in Banc of California, Inc. (NYSE:BANC) for 65,667 shares. 198,424 are owned by Pinnacle Holdings Limited Liability. Regions has invested 0% of its portfolio in Banc of California, Inc. (NYSE:BANC). Putnam Invests Limited Com reported 0% stake. Illinois-based Advisory has invested 0.48% in Banc of California, Inc. (NYSE:BANC). Forest Hill Limited Liability Corp stated it has 670,673 shares. Ellington Management Grp Inc Ltd Llc holds 0.04% of its portfolio in Banc of California, Inc. (NYSE:BANC) for 11,600 shares. Assetmark Inc, a California-based fund reported 14 shares. National Bank Of Mellon Corp stated it has 0% of its portfolio in Banc of California, Inc. (NYSE:BANC). Pinebridge Invs Limited Partnership invested in 0.07% or 138,791 shares. Loomis Sayles Company Ltd Partnership accumulated 0% or 367 shares. Continental Advisors Ltd Liability holds 0.82% or 184,500 shares.

Since February 1, 2018, it had 1 buying transaction, and 0 sales for $386,000 activity.

The stock of Banc of California Inc (NYSE:BANC) registered a decrease of 10.3% in short interest. BANC’s total short interest was 10.57 million shares in May as published by FINRA. Its down 10.3% from 11.79 million shares, reported previously. With 664,100 shares average volume, it will take short sellers 16 days to cover their BANC’s short positions. The short interest to Banc of California Inc’s float is 28.29%.

The stock increased 0.53% or $0.1 during the last trading session, reaching $18.85. About 251,266 shares traded. Banc of California, Inc. (NYSE:BANC) has declined 9.16% since May 17, 2017 and is downtrending. It has underperformed by 20.71% the S&P500.

Banc of California, Inc. operates as the bank holding firm for Banc of California, National Association that provides banking services and products in the United States. The company has market cap of $953.58 million. It operates through Commercial Banking and Mortgage Banking divisions. It has a 26.51 P/E ratio. The companyÂ’s deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration guaranteed business loans, construction and renovation loans, lease financing, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.

Banc of California, Inc. (NYSE:BANC) Ratings Coverage

Among 7 analysts covering Banc of California (NYSE:BANC), 3 have Buy rating, 1 Sell and 3 Hold. Therefore 43% are positive. Banc of California had 12 analyst reports since December 21, 2017 according to SRatingsIntel. The stock of Banc of California, Inc. (NYSE:BANC) has “Hold” rating given on Monday, February 26 by Keefe Bruyette & Woods. Piper Jaffray initiated Banc of California, Inc. (NYSE:BANC) rating on Thursday, December 21. Piper Jaffray has “Buy” rating and $26.0 target. FBR Capital maintained Banc of California, Inc. (NYSE:BANC) on Friday, March 16 with “Hold” rating. B. Riley & Co downgraded the shares of BANC in report on Thursday, February 1 to “Neutral” rating. FBR Capital downgraded it to “Hold” rating and $20.0 target in Thursday, February 1 report. The firm earned “Buy” rating on Thursday, February 8 by Piper Jaffray. The stock of Banc of California, Inc. (NYSE:BANC) has “Buy” rating given on Friday, March 16 by Sandler O’Neill. The firm has “Hold” rating given on Thursday, February 8 by FBR Capital. The firm has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The rating was maintained by Keefe Bruyette & Woods on Thursday, March 15 with “Hold”.

More notable recent Banc of California, Inc. (NYSE:BANC) news were published by: Prnewswire.com which released: “Banc of California Announces Schedule of First Quarter 2018 Earnings Release and Conference Call” on April 20, 2018, also Seekingalpha.com with their article: “Banc of California’s (BANC) CEO Doug Bowers on Q1 2018 Results – Earnings Call Transcript” published on April 28, 2018, Prnewswire.com published: “Banc of California Announces Quarterly Dividends” on April 29, 2018. More interesting news about Banc of California, Inc. (NYSE:BANC) were released by: Nasdaq.com and their article: “Investor Expectations to Drive Momentum within Banc of California, Alarm, Consolidated Edison, Summit Midstream …” published on April 23, 2018 as well as Prnewswire.com‘s news article titled: “Banc of California to Present at DA Davidson Financial Institutions Conference on May 9, 2018” with publication date: May 07, 2018.

Banc of California, Inc. (NYSE:BANC) Ratings Chart

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