SBI Securities Co. Ltd. Takes Position in Banc of California, Inc. (NYSE:BANC)

SBI Securities Co. Ltd. acquired a new stake in Banc of California, Inc. (NYSE:BANC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,323 shares of the bank’s stock, valued at approximately $36,000.

A number of other large investors also recently modified their holdings of the company. Wolverine Asset Management LLC grew its position in Banc of California by 81.4% in the third quarter. Wolverine Asset Management LLC now owns 51,084 shares of the bank’s stock worth $752,000 after acquiring an additional 22,930 shares in the last quarter. Cable Hill Partners LLC lifted its stake in Banc of California by 12.6% during the third quarter. Cable Hill Partners LLC now owns 65,224 shares of the bank’s stock worth $967,000 after purchasing an additional 7,308 shares during the last quarter. Curi RMB Capital LLC boosted its holdings in shares of Banc of California by 36.8% in the 3rd quarter. Curi RMB Capital LLC now owns 300,000 shares of the bank’s stock worth $4,419,000 after purchasing an additional 80,707 shares in the last quarter. Empowered Funds LLC increased its position in shares of Banc of California by 3.3% during the 3rd quarter. Empowered Funds LLC now owns 206,345 shares of the bank’s stock valued at $3,039,000 after purchasing an additional 6,562 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Banc of California by 30.1% during the 3rd quarter. Natixis Advisors LLC now owns 81,187 shares of the bank’s stock valued at $1,196,000 after purchasing an additional 18,779 shares during the last quarter. 86.88% of the stock is currently owned by institutional investors.

Banc of California Stock Performance

Shares of BANC stock opened at $13.33 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90. Banc of California, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $18.08. The stock has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $15.42. The company has a market capitalization of $2.12 billion, a P/E ratio of 23.81 and a beta of 1.18.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating 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%. Analysts expect that Banc of California, Inc. will post 1.31 earnings per share for the current year.

Banc of California Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 3.00%. Banc of California’s dividend payout ratio (DPR) is presently 71.43%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Barclays dropped their target price on Banc of California from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stephens dropped their target price on Banc of California from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $20.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. assumed coverage on Banc of California in a research report on Friday, February 7th. They issued a “neutral” rating and a $18.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Banc of California has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

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.