Banc of California Inc
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Financials : Banks | Small Cap Value
Company profile

Banc of California, Inc. is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties. The Bank offers automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, automatic clearing house (ACH) origination, wire transfer, direct deposit, and safe deposit boxes. Bank customers also have the ability to access their accounts through a nationwide network of automated teller machines (ATMs), online, telephone and mobile banking. The Bank's lending activities are focused on providing financing to private businesses, entrepreneurs and homeowners.

Closing Price
$11.74
Day's Change
0.32 (2.80%)
Bid
--
Ask
--
B/A Size
--
Day's High
12.61
Day's Low
11.42
Volume
(Heavy Day)
Volume:
241,690

10-day average volume:
136,056
241,690

Cisco stock slides toward worst day since 2011 after earnings

10:49 am ET August 13, 2020 (MarketWatch)
Print

Cisco Systems Inc. shares (CSCO) are off 11.6% in Thursday morning trading after the company reported declining fiscal-fourth quarter revenue and gave a downbeat outlook for the current period (http://www.marketwatch.com/story/cisco-shares-dip-6-on-tepid-earnings-outlook-revenue-decline-2020-08-12). The stock is on track for its worst single-day percentage drop since Feb. 10, 2011, when it fell 14.2%. "Guidance for the October quarter was the issue," wrote Barclays analyst Tim Long, "raising concerns that CSCO's relative resilience thus far may be waning as the effects of the pandemic carry on into FY21." He wrote of his concerns about Cisco's commercial order trends as the company continues to see spending delays. Long has a neutral rating and $50 price target on the stock. RBC Capital Markets analyst Robert Muller kept his outperform rating on the stock and bumped his price target up to $48 from $47 but warned of "choppiness" in the near term. "While we believe favorable tailwinds and leading positioning across its business lines set the stage for a favorable re-emergence from the pandemic, uncertainty regarding timing leads us to push out our expectations for growth," Muller wrote. Cisco shares have increased 1.5% over the past three months as the Dow Jones Industrial Average has gained 20%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 13, 2020 10:49 ET (14:49 GMT)

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