King Luther Capital Management Corp decreased its holdings in Banc of California (NYSE:BANC) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 636,449 shares of the bank’s stock after selling 3,695 shares during the quarter. King Luther Capital Management Corp owned 1.26% of Banc of California worth $12,283,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. FNY Partners Fund LP acquired a new position in Banc of California in the 4th quarter worth approximately $103,000. JPMorgan Chase & Co. boosted its stake in Banc of California by 6,699.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,451 shares of the bank’s stock worth $195,000 after purchasing an additional 9,312 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Banc of California in the 1st quarter worth approximately $269,000. Teacher Retirement System of Texas acquired a new position in Banc of California in the 4th quarter worth approximately $298,000. Finally, Gator Capital Management LLC acquired a new position in Banc of California in the 4th quarter worth approximately $310,000.
A number of equities analysts recently commented on BANC shares. Bank of America lowered shares of Banc of California from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research note on Friday, April 6th. FIG Partners lowered shares of Banc of California from a “market perform” rating to an “underperform” rating in a research note on Friday, January 26th. Zacks Investment Research raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. ValuEngine lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Banc of California in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.00.
Banc of California (NYSE:BANC) last issued its earnings results on Friday, April 27th. The bank reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $80.02 million during the quarter, compared to analyst estimates of $78.46 million. Banc of California had a net margin of 11.46% and a return on equity of 8.37%. During the same quarter last year, the business posted $0.23 EPS. equities analysts forecast that Banc of California will post 0.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, June 14th. Banc of California’s dividend payout ratio (DPR) is currently 63.41%.
Banc of California Company Profile
Banc of California, Inc operates as a bank holding company, which engages in the provision of retail deposits from the general public and invests in commercial, consumer, and real estate secured loans. It operates through the following segments: Commercial Banking, Mortgage Banking, and Corporate and Others.
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