Banc of California, Inc. (NYSE:BANC) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC raised its holdings in Banc of California, Inc. (NYSE:BANC) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,187 shares of the bank’s stock after buying an additional 18,779 shares during the period. Natixis Advisors LLC’s holdings in Banc of California were worth $1,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BANC. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 1,582,941 shares in the last quarter. American Century Companies Inc. increased its holdings in Banc of California by 25.9% in the second quarter. American Century Companies Inc. now owns 3,222,376 shares of the bank’s stock valued at $41,182,000 after buying an additional 663,061 shares during the last quarter. Hodges Capital Management Inc. raised its stake in Banc of California by 13.6% in the second quarter. Hodges Capital Management Inc. now owns 1,986,246 shares of the bank’s stock valued at $25,384,000 after buying an additional 238,242 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Banc of California by 461.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 651,695 shares of the bank’s stock worth $9,599,000 after buying an additional 535,654 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Banc of California by 5.7% during the 2nd quarter. Sei Investments Co. now owns 535,193 shares of the bank’s stock worth $6,840,000 after acquiring an additional 28,991 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Banc of California Stock Down 1.8 %

Shares of NYSE:BANC opened at $17.46 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.77 billion, a P/E ratio of -4.09 and a beta of 1.13. Banc of California, Inc. has a 52-week low of $11.36 and a 52-week high of $18.08. The stock’s fifty day simple moving average is $15.30 and its 200-day simple moving average is $14.18.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.11. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. The business had revenue of $431.44 million for the quarter, compared to analysts’ expectations of $229.46 million. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, equities research analysts forecast that Banc of California, Inc. will post 0.7 earnings per share for the current fiscal year.

Banc of California Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.29%. Banc of California’s dividend payout ratio is presently -9.37%.

Insiders Place Their Bets

In related news, Director Richard J. Lashley sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.00, for a total transaction of $1,050,000.00. Following the transaction, the director now directly owns 719,826 shares of the company’s stock, valued at approximately $10,077,564. The trade was a 9.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BANC. Wells Fargo & Company raised their price objective on shares of Banc of California from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Barclays raised shares of Banc of California from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $18.00 in a research report on Thursday, October 31st. Citigroup began coverage on Banc of California in a report on Thursday, October 10th. They set a “neutral” rating and a $15.00 price objective on the stock. DA Davidson boosted their target price on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Stephens raised their price target on Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.30.

Banc of California 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.