Natixis Advisors LLC Has $1.43 Million Stake in Banc of California, Inc. (NYSE:BANC)

Natixis Advisors LLC grew its stake in Banc of California, Inc. (NYSE:BANC) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,463 shares of the bank’s stock after buying an additional 11,276 shares during the period. Natixis Advisors LLC’s holdings in Banc of California were worth $1,429,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in shares of Banc of California in the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in Banc of California in the 4th quarter worth $36,000. Jones Financial Companies Lllp raised its holdings in Banc of California by 35.1% in the 4th quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock worth $55,000 after acquiring an additional 928 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Banc of California by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock valued at $68,000 after acquiring an additional 2,926 shares during the period. Finally, KBC Group NV grew its position in shares of Banc of California by 71.0% in the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after purchasing an additional 3,026 shares during the last quarter. Institutional investors own 86.88% of the company’s stock.

Banc of California Stock Performance

NYSE BANC opened at $14.55 on Wednesday. Banc of California, Inc. has a twelve month low of $11.88 and a twelve month high of $18.08. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.31 billion, a P/E ratio of 25.98 and a beta of 1.18. The company’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $15.42.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. As a group, research analysts forecast that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.75%. Banc of California’s dividend payout ratio is currently 71.43%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BANC shares. StockNews.com raised Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. initiated coverage on Banc of California in a research report on Friday, February 7th. They issued a “neutral” rating and a $18.00 price objective for the company. Raymond James boosted their target price on shares of Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Barclays dropped their price objective on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Banc of California has a consensus rating of “Moderate Buy” and an average price target of $18.18.

About Banc of California

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.