Banc of California up after authorizing $150 million stock repurchase program

Banc of California

17/03/2025 14:40

** Regional lender Banc of California's BANC.N shares rise 1% to $14.10

** BANC says its board has authorized the repurchase of up to $150 million worth of its shares

** Purchases may be made in open-market transactions, block transactions, and privately negotiated transactions, among other means

** Repurchase authorization expires in March 2026 - BANC

** Raymond James says it is pleased with the announcement, adding that it expects the bank will be actively repurchasing shares

** Piper Sandler says the slightly larger buyback emerged sooner than anticipated

** BANC stock down 9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))