69,847 Shares in Banc of California, Inc. $BANC Purchased by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC purchased a new stake in shares of Banc of California, Inc. (NYSE:BANC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,847 shares of the bank’s stock, valued at approximately $981,000.

Several other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in shares of Banc of California during the 1st quarter worth approximately $296,000. Xponance Inc. acquired a new position in Banc of California during the first quarter worth $148,000. New York State Common Retirement Fund raised its position in Banc of California by 34.5% during the first quarter. New York State Common Retirement Fund now owns 645,519 shares of the bank’s stock worth $9,160,000 after acquiring an additional 165,607 shares in the last quarter. CWM LLC lifted its stake in Banc of California by 41.7% in the first quarter. CWM LLC now owns 8,049 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,367 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Banc of California by 26.2% in the 1st quarter. Victory Capital Management Inc. now owns 33,052 shares of the bank’s stock valued at $469,000 after acquiring an additional 6,862 shares during the period. Institutional investors and hedge funds own 86.88% of the company’s stock.

Insider Buying and Selling at Banc of California

In related news, insider Hamid Hussain sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.59, for a total value of $331,800.00. Following the completion of the sale, the insider directly owned 66,444 shares in the company, valued at approximately $1,102,305.96. The trade was a 23.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.69% of the company’s stock.

Banc of California Stock Down 1.1%

BANC stock opened at $17.33 on Thursday. Banc of California, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $18.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 16.66 and a beta of 0.75. The business’s fifty day moving average price is $16.89 and its two-hundred day moving average price is $15.38.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Monday, May 13th. The bank reported $1.03 EPS for the quarter. Banc of California had a net margin of 11.49% and a return on equity of 8.00%. The business had revenue of $315.66 million for the quarter. On average, equities analysts anticipate that Banc of California, Inc. will post 1.31 earnings per share for the current year.

Banc of California Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. Banc of California’s dividend payout ratio (DPR) is currently 38.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banc of California in a report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on Banc of California from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Banc of California in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Banc of California from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Citigroup raised Banc of California from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $21.50 in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Banc of California currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

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.