Thompson Siegel & Walmsley LLC trimmed its stake in Banc of California, Inc. (NYSE:BANC – Free Report) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,647 shares of the bank’s stock after selling 30,774 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.22% of Banc of California worth $6,475,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Banc of California by 38.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,023 shares of the bank’s stock valued at $39,000 after acquiring an additional 564 shares during the period. PNC Financial Services Group Inc. boosted its position in Banc of California by 7.7% during the third quarter. PNC Financial Services Group Inc. now owns 10,804 shares of the bank’s stock valued at $179,000 after buying an additional 777 shares during the period. ProShare Advisors LLC grew its position in Banc of California by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 25,028 shares of the bank’s stock worth $483,000 after acquiring an additional 787 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Banc of California by 19.8% in the fourth quarter. GAMMA Investing LLC now owns 5,297 shares of the bank’s stock worth $102,000 after purchasing an additional 874 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Banc of California by 4.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,742 shares of the bank’s stock worth $593,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 86.88% of the company’s stock.
Banc of California Trading Down 2.0%
Shares of NYSE BANC opened at $18.83 on Tuesday. The business’s 50 day moving average is $18.39 and its two-hundred day moving average is $18.88. Banc of California, Inc. has a 1-year low of $13.24 and a 1-year high of $21.61. The stock has a market capitalization of $2.90 billion, a P/E ratio of 14.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.
Banc of California Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. Banc of California’s payout ratio is currently 36.64%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on BANC shares. JPMorgan Chase & Co. lifted their target price on shares of Banc of California from $20.50 to $22.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Wells Fargo & Company increased their target price on Banc of California from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Piper Sandler raised their price target on shares of Banc of California from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Barclays reduced their price objective on Banc of California from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, DA Davidson reiterated a “buy” rating and set a $24.00 target price on shares of Banc of California in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.31.
View Our Latest Analysis on Banc of California
Banc of California Company Profile
Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.
Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.
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