NEW YORK, January 24, 2017 /PRNewswire/ --
Stock-Callers.com has initiated coverage on four Regional Pacific Banks, namely: Zions Bancorp. (NASDAQ: ZION), Banc of California Inc. (NYSE: BANC), Umpqua Holdings Corp. (NASDAQ: UMPQ), and PacWest Bancorp. (NASDAQ: PACW). These companies belong to the Financials sector, which was mostly lower on Monday, January 23rd, 2017, with the NYSE Financials Sector Index falling about 0.5%, while financial companies in the S&P 500 Index were dropping about 0.8%. Learn more about these stocks by accessing their free research reports at:
On Monday, shares in Salt Lake City, Utah headquartered Zions Bancorp recorded a trading volume of 2.63 million shares. The stock ended the day at $42.31, declining 0.35% from the last trading session. The Company's shares have advanced 31.44% in the previous three months. The stock is trading above its 50-day and 200-day moving averages by 2.82% and 34.68%, respectively. Furthermore, shares of Zions, which provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming, have a Relative Strength Index (RSI) of 49.40.
On January 11th, 2017, research firm UBS upgraded the Company's stock rating from 'Sell' to 'Neutral' while revising its previous target price from $37 a share to $46 a share.
On January 23rd, 2017, Zions reported net earnings applicable to common shareholders for Q4 2016 of $125.0 million, or $0.60 per diluted common share, compared to net earnings applicable to common shareholders of $88.2 million, or $0.43 per diluted common share, for Q4 2015. Annual net earnings applicable to the Company's common shareholders for 2016 was $411.3 million, or $1.99 per diluted common share, compared to $246.6 million, or $1.20 per diluted common share, for 2015. Free research report on ZION is available at:
Banc of California
Irvine, California headquartered Banc of California Inc.'s stock saw a drop of 9.29%, finishing yesterday's session at $14.65. A total volume of 6.48 million shares was traded, above their three months average volume of 1.39 million shares. The Company's shares have gained 7.33% in the previous three months. The stock is trading below its 50-day moving average by 8.68%. Additionally, shares of Banc of California, which operates as the bank holding company for Banc of California, National Association that provides banking products and services in the US, have an RSI of 28.08.
On January 23rd, 2017, Banc of California announced that Robert D. Sznewajs, current Chair of the Joint Audit Committee of the Board of Directors, will assume the role of Chairman of the Board. The Board is undertaking a search to identify the best internal or external candidate to lead the Company. This follows Steven Sugarman's resignation from his role as Chairman and CEO.
Yesterday, research firm FIG Partners upgraded the Company's stock rating from 'Underperform' to 'Market Perform'. The complimentary research report on BANC can be downloaded at:
Shares in Portland, Oregon headquartered Umpqua Holdings Corp. ended Monday's session 1.53% lower at $18.01. The stock recorded a trading volume of 1.41 million shares. The Company's shares have gained 17.47% in the previous three months. The stock is trading 12.76% above its 200-day moving average. Moreover, shares of Umpqua Holdings, which through its subsidiaries, engages in the commercial and retail banking, and retail brokerage businesses, have an RSI of 42.33.
On December 23rd, 2016, Umpqua Holdings, parent company of Umpqua Bank and Umpqua Investments, announced that it will host its Q4 2016 earnings conference call on January 26th, 2017, at 10:00 a.m. PT. During the call, the Company will provide an update on recent activities and discuss its Q4 2016 and full year 2016 financial results, which are expected to be released after the market closes on January 25th, 2017. Visit us today and access our complete research report on UMPQ at:
At the close, Beverly Hills, California-based PacWest Bancorp.'s stock rose 0.04%, finishing at $53.49. A total volume of 418,123 shares was traded. The Company's shares have gained 28.98% over the previous three months. The stock is trading 1.14% above its 50-day moving average and 23.47% above its 200-day moving average. Additionally, shares of PacWest, which operates as the holding company for Pacific Western Bank that provides commercial banking products and services, have an RSI of 47.87.
On January 19th, 2017, PacWest announced net earnings for Q4 2016 of $85.6 million, or $0.71 per diluted share, compared to net earnings for Q3 2016 of $93.9 million, or $0.77 per diluted share. Net earnings for full year 2016 were $352.2 million, or $2.90 per diluted share, compared to net earnings for full year 2015 of $299.6 million, or $2.79 per diluted share. During Q4 2016, the Company's net interest income increased by $13.7 million to $248.3 million. Get free access to your research report on PACW at:
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