Banc of California, Inc. (NYSE:BANC) Shares Acquired by Curi RMB Capital LLC

Curi RMB Capital LLC grew its stake in shares of Banc of California, Inc. (NYSE:BANC) by 36.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the bank’s stock after purchasing an additional 80,707 shares during the period. Curi RMB Capital LLC owned about 0.19% of Banc of California worth $4,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BANC. Sei Investments Co. lifted its stake in Banc of California by 86.0% during the first quarter. Sei Investments Co. now owns 506,202 shares of the bank’s stock valued at $7,699,000 after buying an additional 234,021 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Banc of California by 12.4% in the 1st quarter. ProShare Advisors LLC now owns 27,701 shares of the bank’s stock valued at $421,000 after acquiring an additional 3,058 shares in the last quarter. Vanguard Group Inc. boosted its stake in Banc of California by 17.6% in the 1st quarter. Vanguard Group Inc. now owns 10,597,751 shares of the bank’s stock worth $161,192,000 after purchasing an additional 1,582,941 shares during the period. American International Group Inc. grew its position in Banc of California by 3.7% during the 1st quarter. American International Group Inc. now owns 74,095 shares of the bank’s stock worth $1,127,000 after purchasing an additional 2,653 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Banc of California by 8.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 117,025 shares of the bank’s stock valued at $1,780,000 after purchasing an additional 9,312 shares during the period. Institutional investors and hedge funds own 86.88% of the company’s stock.

Insider Activity at Banc of California

In related news, Director Richard J. Lashley sold 75,000 shares of Banc of California stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $14.00, for a total value of $1,050,000.00. Following the transaction, the director now owns 719,826 shares in the company, valued at $10,077,564. This trade represents a 9.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.37% of the stock is owned by company insiders.

Banc of California Stock Down 0.6 %

NYSE BANC opened at $16.30 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. Banc of California, Inc. has a 12-month low of $11.36 and a 12-month high of $16.92. The company has a 50 day moving average price of $14.95 and a two-hundred day moving average price of $14.09.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. The business had revenue of $431.44 million during the quarter, compared to analyst estimates of $229.46 million. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. During the same quarter in the previous year, the business earned $0.30 EPS. Research analysts predict that Banc of California, Inc. will post 0.71 EPS for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 16th. Banc of California’s dividend payout ratio is -9.37%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup assumed coverage on Banc of California in a research report on Thursday, October 10th. They issued a “neutral” rating and a $15.00 target price for the company. Wedbush raised their price objective on Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Raymond James upped their target price on Banc of California from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. DA Davidson raised their price target on shares of Banc of California from $16.50 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Stephens boosted their price objective on shares of Banc of California from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Banc of California presently has a consensus rating of “Hold” and a consensus target price of $17.30.

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.