Banc of California, Inc. (NYSE:BANC) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 2,694 call options on the stock. This is an increase of 873% compared to the typical daily volume of 277 call options.

Banc of California (NYSE BANC) opened at $20.40 on Friday. The firm has a market cap of $1,066.31, a PE ratio of 16.75, a PEG ratio of 1.94 and a beta of 0.97. Banc of California has a 1 year low of $14.40 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.91 and a quick ratio of 0.91.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $84.24 million. Banc of California had a net margin of 15.48% and a return on equity of 11.78%. During the same period in the prior year, the firm earned $0.59 earnings per share. sell-side analysts predict that Banc of California will post 0.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, December 14th. Banc of California’s payout ratio is presently 45.61%.

Several analysts have issued reports on the stock. ValuEngine lowered shares of Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub raised shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “hold” rating in a research report on Monday, October 9th. FBR & Co reissued a “buy” rating and issued a $24.00 price objective on shares of Banc of California in a research report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods set a $20.00 price objective on shares of Banc of California and gave the company a “hold” rating in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.67.

Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Banc of California by 1.2% in the second quarter. Arizona State Retirement System now owns 26,100 shares of the bank’s stock valued at $561,000 after purchasing an additional 300 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Banc of California by 2.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,519 shares of the bank’s stock valued at $334,000 after acquiring an additional 319 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Banc of California by 1.7% in the second quarter. Texas Permanent School Fund now owns 36,493 shares of the bank’s stock valued at $785,000 after acquiring an additional 596 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Banc of California by 13.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,991 shares of the bank’s stock valued at $129,000 after acquiring an additional 718 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Banc of California by 2.6% in the second quarter. California Public Employees Retirement System now owns 62,200 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 1,600 shares in the last quarter.

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Banc of California Company Profile

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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