Banc of California Inc (NYSE:BANC)’s traded shares stood at 1.25 million during the latest session, with the company’s beta value hitting 1.16. At the last check today, the stock’s price was $15.24, to imply an increase of 0.49% or $0.07 in intraday trading. The BANC share’s 52-week high remains $16.08, putting it -5.51% down since that peak but still an impressive 36.22% since price per share fell to its 52-week low of $9.72. The company has a valuation of $2.56B, with an average of 2.7 million shares in intraday trading volume over the past 10 days and average of 2.51 million shares over the past 3 months.
Banc of California Inc (NYSE:BANC) trade information
After registering a 0.49% upside in the latest session, Banc of California Inc (BANC) has traded red over the past five days. The stock hit a weekly high of 15.31, jumping 0.49% in its intraday price action. The 5-day price performance for the stock is 1.97%, and 4.70% over 30 days. With these gigs, the year-to-date price performance is 13.51%. Short interest in Banc of California Inc (NYSE:BANC) saw shorts transact 11.3 million shares and set a 4.57 days time to cover.
Banc of California Inc (BANC) estimates and forecasts
Looking at statistics comparing Banc of California Inc share performance against respective industry, we note that the company has outperformed competitors. Banc of California Inc (BANC) shares are 25.99% up over the last 6 months, with its year-to-date growth rate higher than industry average at 199.40% against -8.70%. Revenue is forecast to shrink -35.10% this quarter before falling -6.30% for the next one. The rating firms project that company’s revenue will grow 49.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 9 analysts is $266.4 million. Meanwhile, for the quarter ending Jun 2024, a total of 9 analyst(s) estimate revenue growth to $271.9 million.Earnings reports from the last fiscal year show that sales brought in $78.64 million and $71.53 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 238.80% before jumping 280.10% in the following quarter.
BANC Dividends
Banc of California Inc has its next earnings report out between April 18 and April 22. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Banc of California Inc has a forward dividend ratio of 0.40, with the share yield ticking at 2.62% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Banc of California Inc (NYSE:BANC)’s Major holders
Banc of California Inc insiders hold 1.17% of total outstanding shares, with institutional holders owning 88.55% of the shares at 89.59% float percentage. In total, 88.55% institutions holds shares in the company, led by Blackrock Inc. As of Dec 30, 2023, the company held over 19.9 million shares (or 12.69% of shares), all amounting to roughly $303.85 million.
The next major institution holding the largest number of shares is Warburg Pincus LLC with 15.59 million shares, or about 9.94% of shares outstanding. As of the market price on Dec 30, 2023, these shares were worth $238.1 million.
We also have iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Banc of California Inc (BANC) shares. Going by data provided on Jan 30, 2024, iShares Core S&P Smallcap ETF holds roughly 8.8 million shares. This is just over 5.61% of the total shares, with a market valuation of $134.4 million. Data from the same date shows that the other fund manager holds a little less at 3.98 million, or 2.54% of the shares, all valued at about 60.75 million.
