On Tuesday, Banc of California hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 79 the day before.
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the top-performing stocks tend to have an RS Rating north of 80 as they launch their biggest price moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear an appropriate buy point.
The company posted 0% EPS growth in its most recent report. Revenue gains came in at 24%. The company is expected to report its latest performance numbers on or around Jan. 23.
Banc of California earns the No. 7 rank among its peers in the Finance-Savings & Loans industry group. Axos Financial, Synchrony Financial and First Seacoast Bancorp are among the top 5 highly rated stocks within the group.
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