Banc of California, Inc. (NYSE:BANC) Shares Bought by Barclays PLC

Barclays PLC increased its position in Banc of California, Inc. (NYSE:BANC) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,634 shares of the bank’s stock after acquiring an additional 17,876 shares during the period. Barclays PLC owned approximately 0.27% of Banc of California worth $6,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Banc of California by 25.9% during the second quarter. American Century Companies Inc. now owns 3,222,376 shares of the bank’s stock valued at $41,182,000 after acquiring an additional 663,061 shares during the last quarter. Verition Fund Management LLC grew its stake in Banc of California by 93.2% in the 3rd quarter. Verition Fund Management LLC now owns 2,476,387 shares of the bank’s stock worth $36,477,000 after acquiring an additional 1,194,839 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of Banc of California by 3.7% during the 3rd quarter. Hodges Capital Management Inc. now owns 2,060,285 shares of the bank’s stock worth $30,348,000 after purchasing an additional 74,039 shares during the period. Basswood Capital Management L.L.C. boosted its holdings in shares of Banc of California by 589.8% during the third quarter. Basswood Capital Management L.L.C. now owns 1,732,894 shares of the bank’s stock worth $25,526,000 after purchasing an additional 1,481,692 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Banc of California in the third quarter valued at $21,207,000. 86.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BANC. Wells Fargo & Company increased their target price on Banc of California from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their target price on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Wedbush upped their price target on shares of Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Raymond James boosted their price target on Banc of California from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.80.

Banc of California Price Performance

NYSE BANC opened at $15.36 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of -3.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. Banc of California, Inc. has a 12 month low of $11.88 and a 12 month high of $18.08. The company’s 50 day simple moving average is $16.15 and its 200 day simple moving average is $14.53.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $431.44 million for the quarter, compared to the consensus estimate of $229.46 million. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, equities research analysts forecast that Banc of California, Inc. will post 0.7 EPS for the current fiscal year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, December 16th. Banc of California’s payout ratio is -9.37%.

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.