Oliver Luxxe Assets LLC reduced its holdings in Banc of California, Inc. (NYSE:BANC – Free Report) by 39.7% during the 2nd quarter, Holdings Channel reports. The fund owned 92,753 shares of the bank’s stock after selling 61,080 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Banc of California were worth $1,895,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Banc of California by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 9,951,795 shares of the bank’s stock valued at $191,970,000 after acquiring an additional 438,320 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Banc of California by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,464,447 shares of the bank’s stock worth $113,640,000 after purchasing an additional 600,791 shares in the last quarter. Invesco Ltd. grew its stake in shares of Banc of California by 3.1% during the fourth quarter. Invesco Ltd. now owns 6,010,260 shares of the bank’s stock valued at $115,938,000 after purchasing an additional 181,029 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Banc of California by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,796,996 shares of the bank’s stock valued at $53,879,000 after purchasing an additional 297,680 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Banc of California by 243.9% in the third quarter. Bank of America Corp DE now owns 3,430,938 shares of the bank’s stock valued at $56,782,000 after purchasing an additional 2,433,394 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors.
Banc of California Stock Down 1.5%
NYSE:BANC opened at $18.72 on Friday. Banc of California, Inc. has a 12-month low of $14.35 and a 12-month high of $21.93. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.89 billion, a P/E ratio of -44.58 and a beta of 0.74. The stock’s fifty day simple moving average is $20.13 and its 200-day simple moving average is $19.24.
Banc of California Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Banc of California’s dividend payout ratio (DPR) is currently -114.29%.
Analyst Ratings Changes
Several research firms recently weighed in on BANC. Brean Capital cut shares of Banc of California from a “buy” rating to a “neutral” rating in a research report on Thursday, July 30th. Barclays decreased their price objective on Banc of California from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on Banc of California from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Citigroup decreased their price target on Banc of California from $23.50 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, DA Davidson reiterated a “buy” rating and issued a $24.00 price objective on shares of Banc of California in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.62.
Get Our Latest Research Report on BANC
Insider Buying and Selling at Banc of California
In related news, insider Olivia I. Lindsay sold 6,000 shares of Banc of California stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.50, for a total transaction of $117,000.00. Following the transaction, the insider owned 32,842 shares of the company’s stock, valued at $640,419. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.78% of the stock is owned by corporate insiders.
About Banc of California
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.
Featured Articles
- Five stocks we like better than Banc of California
- Quantum Earnings Week: Winners and Losers Are Finally Emerging
- Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth
- Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside
- AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish
Want to see what other hedge funds are holding BANC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banc of California, Inc. (NYSE:BANC – Free Report).
Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter.
