Victory Capital Management Inc. Purchases 15,676 Shares of Banc of California, Inc. (NYSE:BANC)

Victory Capital Management Inc. lifted its position in shares of Banc of California, Inc. (NYSE:BANCGet Rating) by 1.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,237,921 shares of the bank’s stock after acquiring an additional 15,676 shares during the period. Victory Capital Management Inc.’s holdings in Banc of California were worth $23,925,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in Banc of California in the fourth quarter worth $33,000. Strs Ohio bought a new stake in Banc of California in the fourth quarter worth $45,000. Mutual of America Capital Management LLC boosted its holdings in Banc of California by 23.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 7,391 shares of the bank’s stock worth $145,000 after acquiring an additional 1,421 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Banc of California by 90.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,674 shares of the bank’s stock worth $170,000 after acquiring an additional 4,125 shares in the last quarter. Finally, Wellington Shields Capital Management LLC bought a new stake in Banc of California in the fourth quarter worth $196,000. 92.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BANC shares. Stephens boosted their target price on Banc of California from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, April 25th. Piper Sandler lowered their price target on Banc of California to $22.00 in a report on Monday, July 4th. Raymond James downgraded Banc of California from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. TheStreet raised Banc of California from a “c+” rating to a “b” rating in a report on Friday, April 22nd. Finally, StockNews.com downgraded Banc of California from a “buy” rating to a “hold” rating in a report on Friday, May 20th.

Banc of California Stock Up 0.8 %

Banc of California stock opened at $17.21 on Thursday. The stock has a market cap of $1.06 billion, a PE ratio of 10.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.98 and a current ratio of 0.99. Banc of California, Inc. has a one year low of $16.72 and a one year high of $22.09. The stock has a fifty day moving average of $17.89 and a 200 day moving average of $18.72.

Banc of California (NYSE:BANCGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $85.49 million during the quarter, compared to analysts’ expectations of $85.95 million. Banc of California had a return on equity of 12.37% and a net margin of 29.80%. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, sell-side analysts predict that Banc of California, Inc. will post 2.09 EPS for the current year.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Tuesday, June 14th. Banc of California’s dividend payout ratio (DPR) is presently 14.91%.

Banc of California Company Profile

(Get Rating)

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.

See Also

Want to see what other hedge funds are holding BANC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banc of California, Inc. (NYSE:BANCGet Rating).

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

Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter.