Banc of California Inc’s filing revealed that its Director LASHLEY RICHARD J unloaded Company’s shares for reported $1.77 million on Sep 05 ’24. In the deal valued at $14.20 per share,125,000 shares were sold. As a result of this transaction, LASHLEY RICHARD J now holds 668,939 shares worth roughly $10.15 million.
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Then, LASHLEY RICHARD J sold 75,000 shares, generating $1,050,300 in total proceeds. Upon selling the shares at $14.00, the Director now owns 719,826 shares.
Before that, WOLFF JARED M bought 7,130 shares. Banc of California Inc shares valued at $99,677 were divested by the PRESIDENT AND CEO at a price of $13.98 per share. As a result of the transaction, WOLFF JARED M now holds 268,695 shares, worth roughly $4.08 million.
Citigroup initiated its Banc of California Inc [BANC] rating to a Neutral in a research note published on October 10, 2024; the price target was $15. A number of analysts have revised their coverage, including Wedbush’s analysts, who increased its forecast for the stock in late September from “a Neutral” to “an Outperform”. Raymond James also remained covering BANC and has increased its forecast on September 17, 2024 with a “an Outperform” recommendation from previously “Mkt perform” rating. Keefe Bruyette revised its rating on March 22, 2024. It rated BANC as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of BANC
On Friday, Banc of California Inc [NYSE:BANC] saw its stock fall -0.65% to $15.18. Over the last five days, the stock has gained 4.76%. Banc of California Inc shares have risen nearly 13.03% since the year began. Nevertheless, the stocks have risen 23.41% over the past one year. While a 52-week high of $15.54 was reached on 03/28/24, a 52-week low of $9.96 was recorded on 06/27/24. SMA at 50 days reached $14.25, while 200 days put it at $13.91.
Levels Of Support And Resistance For BANC Stock
The 24-hour chart illustrates a support level at 15.10, which if violated will result in even more drops to 15.02. On the upside, there is a resistance level at 15.34. A further resistance level may holdings at 15.49. The Relative Strength Index (RSI) on the 14-day chart is 62.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.40%. Stochastics %K at 90.40% indicates the stock is a selling.
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 2024-09-30, dropping by -2.88 million shares to a total of 9.07 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 11.94 million shares. There was a decline of -31.74%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on March 08, 2024 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $16 price target.
