PL Capital raises stake in Banc of California to 7.9% from 7.5% The PL Capital Group has significant concerns and questions about the companyís corporate governance, operating performance, financial projections and compensation plans. PL Capital Groupís intent is to engage in a dialogue with the management and board of the company to address these concerns and questions. If needed, the PL Capital Group will assert its stockholder rights.
Banc of California downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Banc of California to Neutral from Buy. The firm downgraded shares based on relative valuation. Price target is $12.50.