UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.10 Million Stock Position in Banc of California, Inc. (NYSE:BANC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Banc of California, Inc. (NYSE:BANC) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,368 shares of the bank’s stock after selling 5,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Banc of California worth $5,102,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BANC. Fifth Third Bancorp increased its holdings in shares of Banc of California by 146.3% during the 2nd quarter. Fifth Third Bancorp now owns 2,143 shares of the bank’s stock worth $27,000 after purchasing an additional 1,273 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Banc of California during the third quarter worth about $29,000. GAMMA Investing LLC increased its stake in Banc of California by 32.3% during the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after acquiring an additional 734 shares during the period. Mendon Capital Advisors Corp acquired a new position in Banc of California in the 2nd quarter valued at approximately $102,000. Finally, Marshall Wace LLP bought a new stake in shares of Banc of California in the 2nd quarter worth approximately $166,000. 86.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BANC shares. DA Davidson increased their price target on Banc of California from $16.50 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on Banc of California from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Citigroup started coverage on shares of Banc of California in a research report on Thursday, October 10th. They set a “neutral” rating and a $15.00 price target on the stock. Stephens increased their price objective on shares of Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Barclays boosted their target price on shares of Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.80.

Banc of California Trading Up 1.2 %

Shares of NYSE:BANC opened at $16.99 on Thursday. Banc of California, Inc. has a 12-month low of $11.88 and a 12-month high of $18.08. The business has a 50 day moving average of $15.87 and a 200-day moving average of $14.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.70 billion, a PE ratio of -3.98 and a beta of 1.14.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.11. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. The business had revenue of $431.44 million for the quarter, compared to analyst estimates of $229.46 million. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities research analysts forecast that Banc of California, Inc. will post 0.7 earnings per share for the current year.

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. Banc of California’s dividend payout ratio (DPR) is presently -9.37%.

Banc of California 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.