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

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