Banc of California, Inc.(BANC) shares saw a recent bid of $20.25 and 646.64TH shares have exchanged hands in the recent trading session, yielding a 0.25% gain over the past week. The stock price decreased -0.98% or $0.2 versus $20.45 at the end of the prior session. This change led market cap to move at $1.02B, putting the price -12.90% below the 52-week high and 85.27% above the 52-week low. The company’s stock has a normal trading capacity of 1.22M shares while the relative volume is 0.53.
To stay one step ahead we extended our research by comparing different price targets. The stock notched a 12-month high of $22.86 while $25.00 target is by far the most aggressive out of analysts who are currently evaluating the company, $2.14 higher than the next highest 52-week price estimate. The lowest 12-month price target for the shares is $18.00, which would be decrease of about -11% of its current value. The mean target of $24.00 should be compared with the price when the stock was languishing around $10.93 a share. And it remains to be seen which target price BANC can achieve without sacrificing much as the company is holding a 0.70% gain for the past twelve months.
By historical standards, Banc of California, Inc. remains a cheap stock. The company’s current price-earnings ratio amounts to 17.86 times earnings, below the average P/E ratio of 20.58 times earnings. For now, Banc of California, Inc. is the toast of Wall Street as its ABR stands at 2.00 with 3 out of 8 analysts rating the stock a buy. Over the short term, some market observers may have noticed that Banc of California, Inc. has a 37.08% short float with 15 days to cover. It becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Banc of California, Inc. has far performed well this year, with the share price up 16.71% since January. Over the past 2 quarters, the stock is up 30.23%, compared with a gain of nearly 1.25% for 3 months and about -7.95% for the past 30 days.
Revenue for the quarter also did not kill consensus, coming in at $83.75M, compared to the consensus of 85.49M. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $0.27. The company is expected to report EPS as high as $0.36 and as low as $0.20 per share. Similarly, full-year EPS forecasts have ranged between $0.96 and $1.44. The mean EPS estimate is $1.17. On the other side, sales forecasts for the current quarter are $86.93M. The stock is expected to report revenue as high as $98.4M and as low as $83.6M per share. Similarly, full-year sales forecasts have ranged between $336.8M and $358.83M. The mean revenue estimate is $348.78M.
Over the last 5 years, Banc of California, Inc. has averaged a 44.50% YoY EPS growth rate and a 60.10% revenue growth rate. Analysts are expecting EPS growth rates to be at -1.10% this quarter and EPS estimate for next year reflect a 40.34% growth rate.
Sell-side analysts also have something to say about this company. FBR & Co. analysts stated on 04/05/2017 that they maintained their Outperform rating. Keefe Bruyette had a markedly different take on 04/05/2017, proposing that Banc of California, Inc. is now considered Mkt Perform versus prior Outperform rating. Wells Fargo raised its rating on Banc of California, Inc. to Outperform on 11/04/2017 in a reversal from its prior Market Perform rating. FBR & Co. raised its rating on Banc of California, Inc. to Outperform on 26/01/2017 in a reversal from its prior Mkt Perform rating.