The EVP, CHIEF BANKING OFFICER of Banc of California (NYSE: BANC) is Selling Shares

By Carrie Williams

Today, the EVP, CHIEF BANKING OFFICER of Banc of California (NYSE: BANC), Jeffrey Seabold, sold shares of BANC for $187.9K.

In addition to Jeffrey Seabold, 3 other BANC executives reported Sell trades in the last month. Following Jeffrey Seabold’s last BANC Sell transaction on March 08, 2017, the stock climbed by 0.6%.

Based on Banc of California’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $159 million and quarterly net profit of $32.4 million. In comparison, last year the company earned revenue of $132 million and had a net profit of $17.89 million. The company has a one year high of $23.24 and a one year low of $10.93. BANC’s market cap is $1.04B and the company has a P/E ratio of 10.85.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $18.50, reflecting a 11.6% upside.

The insider sentiment on Banc of California has been negative according to 44 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Banc of California, Inc. operates as a bank holding company, which engages in the provision of retail deposits from the general public and invests in commercial, consumer, and real estate secured loans. It operates through the following segments: Commercial Banking, Mortgage Banking, Financial Advisory, and Corporate and Others. The Commercial Banking segment involves in retail banking, commercial banking, private banking, financial institutions banking, residential portfolio lending, commercial real estate, and multifamily lending, construction and rehab lending, commercial specialty finance, and warehouse lending. The Mortgage Banking segment comprises of mortgage banking business, operated under the trade name of Banc Home Loans. The Financial Advisory segment includes providing services to the purchase, sale, and management of single-family residential mortgage loans through, The Palisades Group. The Corporate and Others segment offers sale of real estate owned and loans. The company was founded on March 25, 2002 and is headquartered in Irvine, CA.