Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Banc of California Inc shares valued at $1,774,625 were sold by LASHLEY RICHARD J on Sep 05 ’24. At $14.20 per share, LASHLEY RICHARD J sold 125,000 shares. The insider’s holdings dropped to 668,939 shares worth approximately $9.26 million following the completion of this transaction.
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Also, LASHLEY RICHARD J sold 75,000 shares, netting a total of over 1,050,300 in proceeds. Following the sale of shares at $14.00 each, the insider now holds 719,826 shares.
Before that, WOLFF JARED M had added 7,130 shares to its account. In a trade valued at $99,677, the PRESIDENT AND CEO bought Banc of California Inc shares for $13.98 each. Upon closing the transaction, the insider’s holdings increased to 7,130 shares, worth approximately $3.72 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 -1.98%. Over the course of the year, Banc of California Inc shares have jumped approximately 3.13%. Shares of the company reached a 52-week high of $15.54 on 03/28/24 and a 52-week low of $11.88 on 06/27/24. A 50-day SMA is recorded $13.70, while a 200-day SMA reached $13.71. Nevertheless, trading volume fell to 1.33 million shares from 2.7 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 13.76, which, if violated, would cause prices to drop to 13.66. In the upper region, resistance lies at 14.00. The next price resistance is at 14.15. RSI (Relative Strength Index) is 49.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 73.19%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
