Cwm LLC Has $91,000 Stock Position in Banc of California, Inc. (NYSE:BANC)

Cwm LLC lifted its stake in shares of Banc of California, Inc. (NYSE:BANC) by 872.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,785 shares of the bank’s stock after purchasing an additional 6,087 shares during the quarter. Cwm LLC’s holdings in Banc of California were worth $91,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Banc of California by 2,466.2% during the 4th quarter. Versant Capital Management Inc now owns 1,899 shares of the bank’s stock worth $26,000 after buying an additional 1,825 shares during the period. Anchor Investment Management LLC acquired a new stake in Banc of California during the fourth quarter worth approximately $44,000. Avior Wealth Management LLC bought a new stake in Banc of California in the fourth quarter worth approximately $44,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Banc of California in the third quarter valued at approximately $145,000. Finally, Everence Capital Management Inc. bought a new position in Banc of California during the fourth quarter worth $179,000. 86.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Banc of California

In other Banc of California news, CEO Jared M. Wolff bought 7,130 shares of the stock in a transaction dated Thursday, April 25th. The shares were bought at an average cost of $13.98 per share, for a total transaction of $99,677.40. Following the purchase, the chief executive officer now directly owns 268,695 shares of the company’s stock, valued at approximately $3,756,356.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Richard J. Lashley acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $21.40 per share, for a total transaction of $214,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $214,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jared M. Wolff bought 7,130 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was purchased at an average cost of $13.98 per share, with a total value of $99,677.40. Following the completion of the transaction, the chief executive officer now directly owns 268,695 shares of the company’s stock, valued at $3,756,356.10. The disclosure for this purchase can be found here. Insiders acquired 27,130 shares of company stock worth $445,277 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Banc of California Stock Up 0.3 %

BANC opened at $14.84 on Wednesday. Banc of California, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $16.08. The firm has a market capitalization of $2.33 billion, a P/E ratio of -4.46 and a beta of 1.17. The company’s 50-day moving average is $14.47 and its 200 day moving average is $13.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89.

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

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.70%. Banc of California’s dividend payout ratio is currently -12.01%.

Banc of California Company Profile

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.