12,816 Shares in Banc of California, Inc. (NYSE:BANC) Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB purchased a new stake in Banc of California, Inc. (NYSE:BANC) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 12,816 shares of the bank’s stock, valued at approximately $172,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crescent Grove Advisors LLC purchased a new stake in Banc of California during the fourth quarter valued at about $1,303,000. New York State Teachers Retirement System lifted its position in shares of Banc of California by 510.7% in the 4th quarter. New York State Teachers Retirement System now owns 79,808 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 66,739 shares in the last quarter. Peregrine Capital Management LLC lifted its position in shares of Banc of California by 22.2% in the 4th quarter. Peregrine Capital Management LLC now owns 628,950 shares of the bank’s stock valued at $8,447,000 after acquiring an additional 114,173 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Banc of California in the 4th quarter worth approximately $1,488,000. Finally, JCSD Capital LLC grew its position in Banc of California by 76.0% during the 4th quarter. JCSD Capital LLC now owns 243,117 shares of the bank’s stock worth $3,265,000 after purchasing an additional 105,000 shares in the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BANC. Truist Financial decreased their target price on Banc of California from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. StockNews.com raised Banc of California to a “sell” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods upgraded Banc of California from a “market perform” rating to an “outperform” rating and upped their target price for the company from $16.00 to $18.00 in a report on Friday, March 22nd. Wells Fargo & Company raised their price target on shares of Banc of California from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Wedbush dropped their price objective on shares of Banc of California from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.64.

Insider Buying and Selling at Banc of California

In related news, Director Richard J. Lashley bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $21.40 per share, for a total transaction of $214,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $214,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Banc of California news, CEO Jared M. Wolff bought 7,130 shares of Banc of California stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $13.98 per share, with a total value of $99,677.40. Following the acquisition, the chief executive officer now directly owns 268,695 shares of the company’s stock, valued at $3,756,356.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Lashley acquired 10,000 shares of Banc of California stock in a transaction on Thursday, February 29th. The stock was acquired at an average cost of $21.40 per share, for a total transaction of $214,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $214,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 27,130 shares of company stock valued at $445,277. 7.37% of the stock is currently owned by corporate insiders.

Banc of California Stock Up 2.9 %

NYSE BANC opened at $14.64 on Friday. The firm has a 50-day simple moving average of $14.45 and a 200 day simple moving average of $13.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California, Inc. has a twelve month low of $9.72 and a twelve month high of $16.08. The stock has a market cap of $2.30 billion, a PE ratio of -4.39 and a beta of 1.17.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The business had revenue of $522.57 million for the quarter, compared to the consensus estimate of $296.02 million. Banc of California had a positive return on equity of 2.25% and a negative net margin of 29.10%. During the same period in the previous year, the business posted $0.37 earnings per share. On average, research analysts forecast that Banc of California, Inc. will post 1.32 EPS for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, March 14th. Banc of California’s payout ratio is -12.01%.

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.