Banc of California (BANC) Receives a Hold from Truist Financial

Truist Financial analyst Brandon King maintained a Hold rating on Banc of California (BANC – Research Report) today. The company’s shares opened today at $13.80.

According to TipRanks, King is a 4-star analyst with an average return of 9.3% and a 61.93% success rate. King covers the Financial sector, focusing on stocks such as Synovus, East West Bancorp, and Regions Financial.

In addition to Truist Financial, Banc of California also received a Hold from Barclays’s Jared Shaw in a report issued today. However, on the same day, D.A. Davidson maintained a Buy rating on Banc of California (NYSE: BANC).

Based on Banc of California’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $22.28 million and a GAAP net loss of $1.98 billion. In comparison, last year the company earned a revenue of $1.11 billion and had a net profit of $324.19 million

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BANC in relation to earlier this year.

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Banc of California (BANC) Company Description:

Banc of California, Inc. is a financial holding company, which engages in the provision of commercial banking services. It offers personal banking, business and commercial banking, real estate banking, and private banking. The company was founded in March 2002 and is headquartered in Santa Ana, CA.