Banc of California Inc’s recently made public that its Director LASHLEY RICHARD J acquired Company’s shares for reported $0.11 million on Mar 14 ’24. In the deal valued at $14.47 per share,7,500 shares were bought. As a result of this transaction, LASHLEY RICHARD J now holds 2,485,643 shares worth roughly $37.11 million.
Then, LASHLEY RICHARD J bought 15,000 shares, generating $216,669 in total proceeds. Upon buying the shares at $14.44, the Director now owns 2,478,143 shares.
Before that, LASHLEY RICHARD J bought 10,000 shares. Banc of California Inc shares valued at $213,993 were divested by the Director at a price of $21.40 per share. As a result of the transaction, LASHLEY RICHARD J now holds 10,000 shares, worth roughly $0.15 million.
Keefe Bruyette upgraded its Banc of California Inc [BANC] rating to an Outperform from a a Mkt perform in a research note published on March 22, 2024; the price target was increased to $18 from $16. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early March with a ‘”an Equal weight”‘ rating. Truist began covering BANC with “Hold” recommendation on December 04, 2023. Wells Fargo revised its rating on October 04, 2023. It rated BANC as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of BANC
On Monday, Banc of California Inc [NYSE:BANC] saw its stock jump 2.05% to $14.93. Over the last five days, the stock has gained 2.40%. Banc of California Inc shares have risen nearly 11.17% since the year began. Nevertheless, the stocks have risen 22.58% over the past one year. While a 52-week high of $16.08 was reached on 03/28/24, a 52-week low of $9.72 was recorded on 01/17/24. SMA at 50 days reached $14.33, while 200 days put it at $12.99. A total of 1.2 million shares were traded, compared to the trading of 1.98 million shares in the previous session.
Levels Of Support And Resistance For BANC Stock
The 24-hour chart illustrates a support level at 14.74, which if violated will result in even more drops to 14.54. On the upside, there is a resistance level at 15.04. A further resistance level may holdings at 15.14. The Relative Strength Index (RSI) on the 14-day chart is 55.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.56%. Stochastics %K at 47.68% indicates the stock is a holding.
How much short interest is there in Banc of California Inc?
A steep rise in short interest was recorded in Banc of California Inc stocks on Mar 15, 2024, growing by 1.31 million shares to a total of 11.3 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.99 million shares. There was a rise of 11.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.86% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.57.
