Banc of California, Inc. $BANC Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in Banc of California, Inc. (NYSE:BANC) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,863 shares of the bank’s stock after acquiring an additional 26,952 shares during the quarter. Quantbot Technologies LP’s holdings in Banc of California were worth $1,656,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BANC. Centerbridge Partners L.P. increased its position in shares of Banc of California by 18.7% in the 1st quarter. Centerbridge Partners L.P. now owns 4,771,784 shares of the bank’s stock valued at $67,712,000 after purchasing an additional 752,239 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Banc of California by 22.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,201 shares of the bank’s stock worth $59,000 after purchasing an additional 762 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Banc of California by 111.4% during the first quarter. Hsbc Holdings PLC now owns 177,344 shares of the bank’s stock worth $2,503,000 after purchasing an additional 93,454 shares in the last quarter. Vanguard Group Inc. increased its holdings in Banc of California by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,575,301 shares of the bank’s stock valued at $135,874,000 after buying an additional 50,452 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Banc of California in the first quarter valued at $6,390,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Banc of California Trading Up 1.0%

BANC opened at $19.10 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. Banc of California, Inc. has a 52 week low of $11.52 and a 52 week high of $19.15. The business’s 50 day moving average is $17.30 and its two-hundred day moving average is $15.85. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 18.37 and a beta of 0.72.

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

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 15th. Banc of California’s dividend payout ratio (DPR) is presently 38.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BANC. DA Davidson upped their price objective on Banc of California from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Wall Street Zen upgraded Banc of California from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Banc of California from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Barclays raised their price objective on shares of Banc of California from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial upgraded shares of Banc of California from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

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.