Type
|
Public |
---|---|
Traded as | NYSE: BANC S&P 600 Component |
Industry | Financial services |
Founded | 1941 (as Rohr Employees Federal Credit Union) |
Headquarters | Santa Ana, California |
Key people
|
Doug Bowers, President and Chief Executive Officer |
Total assets | $10+ billion |
Parent | Banc of California, Inc. |
Website | bancofcal.com |
Banc of California is a bank serving the state of California and parts of the Western United States. It was founded in 1941 and has 40 banking branches in Southern California and loan production offices in surrounding states. The bank is currently headquartered in Santa Ana, California
The Banc of California was founded in 1941 as the Rohr Employees Federal Credit Union, serving employees of the Rohr Aircraft plant in Chula Vista, California. The credit union was renamed to the Pacific Trust Federal Credit Union in 1995, which itself was renamed to the Pacific Trust Bank in 2000, becoming a mutually owned federal savings bank.
The Pacific Trust Bank was made into a subsidiary of First PacTrust Bancorp Inc. in 2002. In 2013, the company's two banking subsidiaries, Pacific Trust Bank and The Private Bank of California, were merged to form the "Banc of California". The bank also hired former Los Angeles mayor Antonio Villaraigosa as a strategic advisor.
In 2014, Banc of California bought 20 bank branches in Southern California from Popular, Inc., a Puerto Rico-based bank, for $5.4 million. The move doubled the number of branches the bank owned and brought its assets to $5 billion.
On January 23, 2017, CEO Steven Sugarman resigned amid an investigation by the Securities Exchange Commission (SEC) over the bank's alleged links to a convicted fraudster. An internal investigation by the bank found no legal issues, but attracted criticism from the CalSTRS over its poor oversight of deals signed that benefited Sugarman and his associates. After Sugarman's resignation, the bank shifted its focus from growth to profitability, including laying off 139 workers at its corporate offices.
As of September 2017, financial analysts had cut Banc of California's earnings estimates per share from $1.97 in January to $.77, despite the new strategy's focus on profitability. This has lead some commentators to question whether the change in strategy was wise given the bank's previously outstanding performance.
Since 2014, the bank has been the official bank of the USC Trojans, the athletic program of the University of Southern California.
In 2016, the Banc of California announced a partnership with Los Angeles FC, an upcoming Major League Soccer franchise, and a 15-year, $100 million deal with the club for the naming rights to their stadium Banc of California Stadium in Los Angeles, scheduled to open in 2018. The deal was described as "a little out of the mold for a bank of our size" by CEO Steven Sugarman, with other observers noting that the bank was not well known nationally.
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2022 | 2022-10-19 | Future report Set alerts | |
Q2 2022 | 2022-07-21 | 0.43 | 0.43 |
Q1 2022 | 2022-04-21 | 0.69 | 0.69 |
Q4 2021 | 2022-01-25 | 0.07 | 0.07 |
Q3 2021 | 2021-10-21 | 0.42 | 0.42 |
Q2 2021 | 2021-07-22 | 0.34 | 0.34 |
Q1 2021 | 2021-04-22 | 0.25 | 0.25 |
Q3 2020 | 2020-10-22 | 0.24 | 0.24 |
Q2 2020 | 2020-07-23 | -0.44 | -0.44 |
Q1 2020 | 2020-04-29 | -0.19 | -0.19 |
2016-07-01 | Initiated Coverage | FBR & Co. | Market Perform | $20.00 |
2016-07-01 | Initiated Coverage | FBR & Co | Market Perform | $20.00 |
2016-06-30 | Reiterated Rating | FBR & Co | Marketperform | |
2016-05-04 | Upgrade | Raymond James | Market Perform to Outperform | $23.00 |
2016-05-04 | Upgrade | Raymond James Financial Inc. | Market Perform to Outperform | $23.00 |
2016-05-02 | Initiated Coverage | Wells Fargo | Outperform | |
2016-05-02 | Initiated Coverage | Wells Fargo & Co. | Outperform | |
2016-04-22 | Upgrade | Keefe, Bruyette & Woods | Market Perform to Outperform | $18.00 to $25.00 |
2016-02-03 | Boost Price Target | Keefe, Bruyette & Woods | Market Perform | $14.00 to $16.00 |
2015-11-09 | Downgrade | Raymond James | Outperform to Market Perform | |
2015-05-28 | Downgrade | DA Davidson | Buy to Neutral | $14.50 |
2015-05-09 | Reiterated Rating | Raymond James | Outperform | $13.00 to $14.00 |
2015-05-01 | Boost Price Target | Keefe, Bruyette & Woods | Market Perform | $11.00 to $14.00 |
2015-04-02 | Lower Price Target | Keefe, Bruyette & Woods | Market Perform | $12.00 to $11.00 |
2015-03-12 | Upgrade | Raymond James | Market Perform to Outperform | $13.00 |
2015-01-13 | Downgrade | Bank of America | Buy to Neutral | $12.50 |
2015-01-13 | Downgrade | Bank of America Corp. | Buy to Neutral | $12.50 |
2014-11-20 | Initiated Coverage | Sterne Agee CRT | Neutral | $12.00 |
2014-08-01 | Boost Price Target | Keefe, Bruyette & Woods | Market Perform | $11.00 to $13.00 |
2014-08-01 | Upgrade | DA Davidson | Neutral to Buy | $11.00 to $14.50 |
2014-05-29 | Initiated Coverage | Bank of America | Buy | $12.50 |
2014-05-19 | Lower Price Target | Keefe, Bruyette & Woods | $13.00 to $11.00 | |
2014-05-12 | Lower Price Target | DA Davidson | $13.50 to $12.50 | |
2014-05-09 | Lower Price Target | Sandler O'Neill | $15.00 to $14.00 | |
2014-04-24 | Boost Price Target | Keefe, Bruyette & Woods | $12.00 to $13.00 | |
2014-04-08 | Downgrade | Raymond James | Outperform to Market Perform | $14.50 |
2014-03-20 | Downgrade | FIG Partners | Outperform to Market Perform | $16.00 to $13.50 |
2014-03-19 | Downgrade | DA Davidson | Buy to Neutral | $15.00 to $13.50 |
2014-03-14 | Lower Price Target | Keefe, Bruyette & Woods | $15.00 to $12.00 | |
2014-03-14 | Upgrade | Sterne Agee CRT | Neutral to Buy | $14.25 |
2013-11-14 | Reiterated Rating | DA Davidson | Buy | $17.00 to $15.50 |
2013-11-12 | Lower Price Target | DA Davidson | Buy | $17.00 to $15.50 |
2013-11-11 | Downgrade | Sterne Agee | Buy to Neutral | |
2013-11-11 | Downgrade | Sterne Agee CRT | Buy to Neutral | |
2013-08-12 | Reiterated | Wunderlich | Buy | $14 to $17 |
2013-03-04 | Reiterated | Wunderlich | Buy | $16 to $14 |
2013-03-04 | Downgrade | Robert W. Baird | Outperform to Neutral | $13 to $11 |
2012-06-06 | Reiterated | Robert W. Baird | Outperform | $18 to $15 |
2016-07-01 | Initiated Coverage | FBR & Co. | Market Perform | $20.00 |
2016-07-01 | Initiated Coverage | FBR & Co | Market Perform | $20.00 |
2016-06-30 | Reiterated Rating | FBR & Co | Marketperform | |
2016-05-04 | Upgrade | Raymond James | Market Perform to Outperform | $23.00 |
2016-05-04 | Upgrade | Raymond James Financial Inc. | Market Perform to Outperform | $23.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In BANC 153 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
BlackRock Inc. | 8.69M |
WELLINGTON MANAGEMENT CO LLP | 4.62M |
BlackRock Fund Advisors | 3.97M |
DIMENSIONAL FUND ADVISORS LP | 3.68M |
Vanguard Group, Inc | 3.66M |
PATRIOT FINANCIAL PARTNERS GP, LP | 3.45M |
PL Capital Advisors, LLC | 3.40M |
STATE STREET CORP | 2.36M |
INVESTMENT COUNSELORS OF MARYLAND LLC | 2.22M |
ENDEAVOUR CAPITAL ADVISORS INC | 2.05M |
BlackRock Institutional Trust Company, N.A. | 1.33M |
VICTORY CAPITAL MANAGEMENT INC | 1.19M |
PRICE MICHAEL F | 1.14M |
Ranger Investment Management, L.P. | 0.97M |
GEODE CAPITAL MANAGEMENT, LLC | 0.94M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
Sugarman Steven CO-CEO | 0.77% (213567) | BANC / |
Seabold Jeffrey T | 0.57% (157720) | BANC / |
Boyle Hugh F CHIEF CREDIT OFFICER | 0.34% (94659) | BANC / FBC / |
Bowers Douglas H CEO AND PRESIDENT | 0.33% (92000) | BANC / SQBK / |
Grosvenor John C. EVP AND GENERAL COUNSEL | 0.21% (59378) | BANC / |
Nicolas Ronald J. Jr. EVP, CFO | 0.19% (53887) | BANC / PPBI / |
McKinney James J. EVP, CAO | 0.18% (50562) | BANC / KMPR / |
CHRISMAN TIMOTHY | 0.18% (50512) | BANC / HMST / |
Karish Jeff | 0.17% (47012) | BANC / MNDL / |
Brownstein Chad T. | 0.16% (44722) | BANC / PGRX / |
Schnel Jonah | 0.16% (43953) | BANC / |
Bogler John A. CHIEF FINANCIAL OFFICER | 0.14% (37500) | BANC / CSE / |
Holoman Eric | 0.13% (34755) | BANC / |
Kuelbs Brian EVP, CHIEF INVESTMENT OFFICER | 0.12% (32865) | BANC / |
SZNEWAJS ROBERT D | 0.11% (30459) | BANC / OUTR / |
Benett Halle J. | 0.10% (26510) | BANC / |
Turner J. Francisco A. EVP, CHIEF STRATEGY OFFICER | 0.09% (26117) | BANC / |
Anderson Gaylin EVP - RETAIL BANKING | 0.08% (21780) | BANC / |
Gagnon Kris CHIEF CREDIT OFFICER | 0.07% (20726) | BANC / |
FRANKO ROBERT MATTHEW /ADV PRESIDENT | 0.07% (19407) | BANC / |
Lanfre Melissa CAO AND EVP | 0.07% (18222) | BANC / |
Duda Nathan CHIEF ACCOUNTING OFFICER | 0.05% (15117) | BANC / |
LASHLEY RICHARD J | 0.05% (15049) | BANC / METR / MFSF / |
Naselow Craig EVP, TREASURER, CIO | 0.05% (14460) | BANC / |
Wang Albert Jen-Wen EVP, CHIEF ACCOUNTING OFFICER | 0.05% (12906) | BANC / WBS / |
Herrin Richard CHIEF ADMINISTRATIVE OFFICER | 0.04% (11906) | BANC / |
Liu Chang EVP AND CHIEF LENDING OFFICER | 0.04% (10335) | BANC / |
EVANS ROBB | 0.04% (10000) | BANC / BSRR / |
Robinson Lonny Duane CFO | 0.02% (6716) | BANC / HAFC / HEOP / |
Nickel Thedora A. CHIEF ADMINISTRATIVE OFFICER | 0.02% (5971) | BANC / |
HILL BONNIE GUITON | 0.02% (5568) | AKS / BANC / CWT / HD / YUM / |
Curran Mary A | 0.02% (4798) | BANC / |
WYCOFF W KIRK | 0.02% (4748) | BANC / GBNK / HTBK / PBIB / PLMT / SQBK / |
GRAY JAMES H | 0.02% (4200) | BANC / |
March Matthew EVP, CAO, CIO | 0.01% (4047) | BANC / |
Gee Lawrence CHIEF ACCT OFFICER | 0.01% (1687) | BANC / |