Revenue Update on Banc of California Inc(NYSE:BANC)

Banc of California Inc(NYSE:BANC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $81.04M. Analysts estimated a revenue of $79.11M. Earnings per share were $0.46. Analysts had estimated an EPS of $0.40.

In a different note, UBS said it Initiates Coverage on Banc of California Inc, according to a research note issued on May 23, 2016. The shares have been rated ‘Buy’ by the firm. On May 4, 2016, Raymond James said it Upgrades its rating on Banc of California Inc. The shares have been rated ‘Outperform’ by the firm. Wells Fargo said it Initiates Coverage on Banc of California Inc, according to a research note issued on May 2, 2016. The shares have been rated ‘Outperform’ by the firm.

Banc of California Inc (BANC) remained unchanged at the close of Wednesday session. Even as the volume increased to 3,01,032 ,the shares failed to make any impression and ended at 0 points or 0.00% at $19.86. The trading session commenced at $19.88 and the stock hit a high of $19.95 and touched $19.6383 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $20.85 and the 52-week low is $11.71. The company has a market cap of $874 M and has approximately 4,40,07,994 outstanding shares.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Jeffrey T Seabold (EVP, CHIEF BANKING OFFICER) sold 59,225 shares at $19.40 per share price.Also, On Dec 18, 2015, J. Francisco A. Turner (EVP, CHIEF STRATEGY OFFICER) sold 2,800 shares at $14.03 per share price.On Aug 24, 2015, Steven Sugarman (CEO) purchased 35,000 shares at $12.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Banc of California Inc. is a financial holding company. The Company is the parent of Banc of California National Association (the Bank) The Palisades Group LLC (The Palisades Group) and PTB Property Holdings LLC (PTB). The Company engages in activities permissible for bank holding companies and in other activities that are financial in nature or incidental or complementary to activities that are financial in nature primarily securities insurance and merchant banking activities. The Bank offers a variety of financial services to meet the banking and financial needs of the communities it serves with operations conducted through 37 banking offices serving San Diego Los Angeles and Orange counties California and 67 loan production offices in California Arizona Oregon Virginia Indiana Maryland Colorado Idaho and Nevada.

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