Banc of California, Inc. (NYSE:BANC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Banc of California, Inc. (NYSE:BANC) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,189 shares of the bank’s stock after purchasing an additional 15,433 shares during the period. Intech Investment Management LLC’s holdings in Banc of California were worth $1,023,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new position in Banc of California during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. bought a new stake in Banc of California in the fourth quarter worth about $36,000. Jones Financial Companies Lllp raised its position in Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock worth $55,000 after acquiring an additional 928 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Banc of California by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock worth $68,000 after acquiring an additional 2,926 shares in the last quarter. Finally, KBC Group NV raised its position in Banc of California by 71.0% in the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock worth $113,000 after acquiring an additional 3,026 shares in the last quarter. 86.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on BANC. Raymond James boosted their price target on shares of Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $20.00 in a research report on Monday, January 6th. Stephens dropped their price target on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Barclays cut their price objective on Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.18.

Banc of California Price Performance

Shares of BANC opened at $14.05 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 25.08 and a beta of 1.18. Banc of California, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $18.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. The business’s 50-day moving average is $15.21 and its 200-day moving average is $15.40.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. Equities research analysts expect that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.85%. Banc of California’s payout ratio is 71.43%.

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.