Hsbc Holdings PLC Has $684,000 Stock Holdings in Banc of California, Inc. (NYSE:BANC)

Hsbc Holdings PLC raised its stake in shares of Banc of California, Inc. (NYSE:BANC) by 66.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,293 shares of the bank’s stock after purchasing an additional 21,670 shares during the quarter. Hsbc Holdings PLC’s holdings in Banc of California were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Banc of California by 17.6% in the 1st quarter. Vanguard Group Inc. now owns 10,597,751 shares of the bank’s stock valued at $161,192,000 after buying an additional 1,582,941 shares in the last quarter. PL Capital Advisors LLC boosted its stake in shares of Banc of California by 0.7% in the 1st quarter. PL Capital Advisors LLC now owns 3,224,219 shares of the bank’s stock valued at $49,040,000 after purchasing an additional 22,500 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Banc of California by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 3,222,376 shares of the bank’s stock worth $41,182,000 after purchasing an additional 663,061 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Banc of California by 148.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,997,802 shares of the bank’s stock worth $40,260,000 after purchasing an additional 1,791,992 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Banc of California by 42.1% during the 1st quarter. William Blair Investment Management LLC now owns 2,575,930 shares of the bank’s stock valued at $39,180,000 after purchasing an additional 762,959 shares during the last quarter. 86.88% of the stock is currently owned by institutional investors.

Banc of California Trading Down 0.2 %

Shares of NYSE BANC opened at $14.79 on Monday. Banc of California, Inc. has a fifty-two week low of $9.96 and a fifty-two week high of $15.54. The firm has a market capitalization of $2.33 billion, a P/E ratio of -4.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.83. The company’s 50 day simple moving average is $13.99 and its 200 day simple moving average is $13.90.

Banc of California (NYSE:BANC) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.09). Banc of California had a negative net margin of 21.99% and a positive return on equity of 2.12%. The company had revenue of $492.38 million during the quarter, compared to analyst estimates of $271.42 million. During the same period last year, the company earned $0.32 EPS. On average, analysts predict that Banc of California, Inc. will post 0.59 EPS for the current year.

Banc of California Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, September 16th. Banc of California’s payout ratio is -12.01%.

Insider Transactions at Banc of California

In other Banc of California news, Director Richard J. Lashley sold 75,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $14.00, for a total value of $1,050,000.00. Following the completion of the sale, the director now directly owns 719,826 shares in the company, valued at $10,077,564. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BANC. Stephens reaffirmed an “equal weight” rating and set a $14.00 price objective on shares of Banc of California in a report on Wednesday, September 4th. Barclays boosted their price objective on Banc of California from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday. Raymond James upgraded Banc of California from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Tuesday, September 17th. Truist Financial upped their price target on shares of Banc of California from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Wedbush upgraded shares of Banc of California from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $18.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.50.

Banc of California Company Profile

Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.