SG Americas Securities LLC Trims Position in Banc of California, Inc. (NYSE:BANC)

SG Americas Securities LLC trimmed its position in Banc of California, Inc. (NYSE:BANC) by 47.1% during the 4th quarter, HoldingsChannel reports. The firm owned 20,211 shares of the bank’s stock after selling 17,995 shares during the period. SG Americas Securities LLC’s holdings in Banc of California were worth $312,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Verition Fund Management LLC increased its holdings in Banc of California by 93.2% in the 3rd quarter. Verition Fund Management LLC now owns 2,476,387 shares of the bank’s stock worth $36,477,000 after acquiring an additional 1,194,839 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of Banc of California by 3.7% in the third quarter. Hodges Capital Management Inc. now owns 2,060,285 shares of the bank’s stock worth $30,348,000 after purchasing an additional 74,039 shares in the last quarter. Basswood Capital Management L.L.C. raised its position in shares of Banc of California by 589.8% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 1,732,894 shares of the bank’s stock valued at $25,526,000 after purchasing an additional 1,481,692 shares during the period. Wellington Management Group LLP purchased a new position in shares of Banc of California during the 3rd quarter valued at $21,207,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Banc of California by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,233,452 shares of the bank’s stock valued at $18,169,000 after buying an additional 44,951 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BANC has been the topic of several research analyst reports. DA Davidson boosted their price objective on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays lowered their price target on Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Raymond James increased their price target on Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Stephens decreased their price target on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Banc of California currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Banc of California Price Performance

Banc of California stock opened at $16.13 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.56 billion, a P/E ratio of 28.81 and a beta of 1.14. The company has a 50-day moving average price of $16.08 and a 200 day moving average price of $15.15. Banc of California, Inc. has a 12-month low of $11.88 and a 12-month high of $18.08.

Banc of California (NYSE:BANC) last posted its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. Sell-side analysts anticipate that Banc of California, Inc. will post 1.35 earnings per share for the current year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. Banc of California’s dividend payout ratio (DPR) is 71.43%.

Banc of California Company 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.