PL Capital Advisors LLC continued to hold its stake in shares of Banc of California, Inc. (NYSE:BANC) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,401,719 shares of the bank’s stock at the end of the second quarter. Banc of California makes up approximately 19.2% of PL Capital Advisors LLC’s holdings, making the stock its largest position. PL Capital Advisors LLC owned approximately 0.07% of Banc of California worth $73,137,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LSV Asset Management increased its stake in shares of Banc of California by 11.8% in the first quarter. LSV Asset Management now owns 1,707,241 shares of the bank’s stock valued at $35,339,000 after buying an additional 179,859 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Banc of California by 4.3% in the first quarter. Great West Life Assurance Co. Can now owns 71,651 shares of the bank’s stock valued at $1,480,000 after buying an additional 2,959 shares in the last quarter. Bowling Portfolio Management LLC increased its stake in shares of Banc of California by 37.0% in the first quarter. Bowling Portfolio Management LLC now owns 46,932 shares of the bank’s stock valued at $971,000 after buying an additional 12,670 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Banc of California by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 111,103 shares of the bank’s stock valued at $2,300,000 after buying an additional 13,891 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of Banc of California during the first quarter valued at about $304,000.

Banc of California, Inc. (BANC) opened at 19.85 on Thursday. Banc of California, Inc. has a one year low of $10.93 and a one year high of $23.25. The firm has a market cap of $998.24 million, a PE ratio of 13.30 and a beta of 0.97. The company’s 50-day moving average is $20.76 and its 200 day moving average is $20.30.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Wednesday, July 26th. The bank reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.04. The business had revenue of $81.21 million for the quarter, compared to the consensus estimate of $97.94 million. Banc of California had a net margin of 17.12% and a return on equity of 14.44%. During the same quarter last year, the firm posted $0.46 EPS. Equities analysts anticipate that Banc of California, Inc. will post $0.76 earnings per share for the current year.

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Several equities research analysts have recently issued reports on the stock. 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 set a $22.00 target price on shares of Banc of California and gave the stock a “hold” rating in a report on Thursday, July 6th. ValuEngine upgraded shares of Banc of California from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research cut shares of Banc of California from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, FBR & Co reduced their target price on shares of Banc of California from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.50.

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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Institutional Ownership by Quarter for Banc of California (NYSE:BANC)

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