Deutsche Bank AG Increases Stock Holdings in Banc of California, Inc. (NYSE:BANC)

Deutsche Bank AG boosted its stake in Banc of California, Inc. (NYSE:BANC) by 54.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,822 shares of the bank’s stock after buying an additional 41,217 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Banc of California worth $1,806,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Picton Mahoney Asset Management bought a new stake in shares of Banc of California in the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Banc of California during the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp boosted its stake in shares of Banc of California by 35.1% in the 4th quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock worth $55,000 after buying an additional 928 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Banc of California by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock valued at $68,000 after acquiring an additional 2,926 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Banc of California in the fourth quarter valued at approximately $97,000. 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, Director James Andrew Barker purchased 10,000 shares of the stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $13.16 per share, with a total value of $131,600.00. Following the acquisition, the director now directly owns 169,680 shares in the company, valued at approximately $2,232,988.80. The trade was a 6.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.69% of the company’s stock.

Banc of California Stock Performance

NYSE:BANC opened at $13.78 on Friday. The business’s fifty day moving average is $13.59 and its 200 day moving average is $15.02. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 24.60 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90. Banc of California, Inc. has a 52-week low of $11.52 and a 52-week high of $18.08.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. The firm had revenue of $266.01 million for the quarter, compared to the consensus estimate of $272.36 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts predict that Banc of California, Inc. will post 1.31 EPS for the current year.

Banc of California Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.90%. The ex-dividend date is Monday, June 16th. Banc of California’s dividend payout ratio is presently 61.54%.

Analyst Ratings Changes

BANC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on Banc of California from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company cut their price target on shares of Banc of California from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group assumed coverage on shares of Banc of California in a research report on Wednesday. They set a “buy” rating and a $18.00 price target for the company. Raymond James raised their price objective on shares of Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Barclays dropped their target price on shares of Banc of California from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

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.