Aperio Group LLC Purchases Shares of 15,220 Banc of California, Inc. (BANC)
Aperio Group LLC purchased a new position in shares of Banc of California, Inc. (NYSE:BANC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,220 shares of the bank’s stock, valued at approximately $327,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Banc of California by 48,720.8% in the first quarter. BlackRock Inc. now owns 6,494,627 shares of the bank’s stock worth $134,438,000 after buying an additional 6,481,324 shares during the last quarter. State Street Corp raised its position in Banc of California by 3.6% in the first quarter. State Street Corp now owns 2,947,411 shares of the bank’s stock worth $61,012,000 after buying an additional 102,282 shares during the last quarter. Wellington Management Group LLP raised its position in Banc of California by 939.7% in the first quarter. Wellington Management Group LLP now owns 1,915,231 shares of the bank’s stock worth $39,645,000 after buying an additional 1,731,026 shares during the last quarter. LSV Asset Management raised its position in Banc of California by 11.8% in the first quarter. LSV Asset Management now owns 1,707,241 shares of the bank’s stock worth $35,339,000 after buying an additional 179,859 shares during the last quarter. Finally, EJF Capital LLC purchased a new position in Banc of California during the first quarter worth $21,011,000.
Shares of Banc of California, Inc. (BANC) traded up 0.134% during mid-day trading on Thursday, reaching $18.675. 146,497 shares of the company’s stock traded hands. Banc of California, Inc. has a 12-month low of $10.93 and a 12-month high of $23.25. The stock has a market cap of $893.52 million, a price-to-earnings ratio of 12.492 and a beta of 0.97. The firm’s 50 day moving average price is $19.99 and its 200-day moving average price is $20.56.
Banc of California (NYSE:BANC) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.04. Banc of California had a net margin of 17.12% and a return on equity of 14.44%. The company had revenue of $81.21 million for the quarter, compared to analysts’ expectations of $97.94 million. During the same period last year, the business earned $0.46 earnings per share. Equities research analysts forecast that Banc of California, Inc. will post $0.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 14th. Banc of California’s dividend payout ratio (DPR) is currently 34.67%.
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Several analysts have commented on BANC shares. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub raised shares of Banc of California from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods lowered shares of Banc of California from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research report on Thursday, May 4th. ValuEngine lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, FBR & Co lowered their price objective on shares of Banc of California from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
About Banc of California
Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.
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