The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Banc of California Inc shares valued at $108,562 were purchased by LASHLEY RICHARD J on Mar 14 ’24. At $14.47 per share, LASHLEY RICHARD J acquired 7,500 shares. The insider’s holdings grew to 2,485,643 shares worth approximately $34.3 million following the completion of this transaction.
Also, LASHLEY RICHARD J purchased 15,000 shares, netting a total of over 216,669 in proceeds. Following the buying of shares at $14.44 each, the insider now holds 2,478,143 shares.
Before that, LASHLEY RICHARD J had added 10,000 shares to its account. In a trade valued at $213,993, the Director bought Banc of California Inc shares for $21.40 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.14 million.
As published in a research note from Keefe Bruyette on March 22, 2024, Banc of California Inc [BANC] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $18 from $16. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early March. As of December 04, 2023, Truist has initiated its “Hold” rating for BANC. Earlier on October 04, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for BANC stock which previously was a “an Overweight”.
Analyzing BANC Stock Performance
During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, Banc of California Inc shares have jumped approximately 2.76%. Shares of the company reached a 52-week high of $15.54 on 03/28/24 and a 52-week low of $12.07 on 01/17/24. A 50-day SMA is recorded $14.37, while a 200-day SMA reached $13.09. Nevertheless, trading volume fell to 1.24 million shares from 1.89 million shares the previous day.
Support And Resistance Levels for Banc of California Inc (BANC)
According to the 24-hour chart, there is a support level at 13.67, which, if violated, would cause prices to drop to 13.54. In the upper region, resistance lies at 13.93. The next price resistance is at 14.06. RSI (Relative Strength Index) is 39.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 87.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
