The Banc of California Inc (BANC) Stake Reduced by Profund Advisors LLC

The Banc of California Inc (BANC) Stake Reduced by Profund Advisors LLC

A number of other large investors have also recently modified their holdings of BANC. Fisher Asset Management LLC increased its stake in shares of Banc of California by 44.2% in the first quarter. Fisher Asset Management LLC now owns 119,357 shares of the bank’s stock worth $2,471,000 after buying an additional 36,599 shares during the last quarter. First Manhattan Co. increased its stake in shares of Banc of California by 39.8% in the first quarter. First Manhattan Co. now owns 33,190 shares of the bank’s stock worth $579,000 after buying an additional 9,446 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Banc of California by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,470 shares of the bank’s stock worth $113,000 after buying an additional 110 shares during the last quarter. Smith Graham & Co. Investment Advisors LP increased its stake in shares of Banc of California by 6.8% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 672,187 shares of the bank’s stock worth $13,914,000 after buying an additional 42,630 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Banc of California by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the bank’s stock worth $418,000 after buying an additional 300 shares during the last quarter. 97.94% of the stock is owned by institutional investors and hedge funds.

Profund Advisors LLC reduced its position in Banc of California Inc (NYSE:BANC) by 29.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,940 shares of the bank’s stock after selling 4,496 shares during the period. Profund Advisors LLC’s holdings in Banc of California were worth $226,000 at the end of the most recent quarter.

Banc of California Inc (NYSE BANC) opened at 21.30 on Monday. Banc of California Inc has a 52-week low of $10.93 and a 52-week high of $23.25. The company has a market capitalization of $1.01 billion, a P/E ratio of 11.91 and a beta of 0.77. The stock’s 50 day moving average is $21.01 and its 200-day moving average is $18.73.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Wednesday, May 3rd. The bank reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. Banc of California had a return on equity of 17.48% and a net margin of 17.57%. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $151.51 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Analysts predict that Banc of California Inc will post $1.19 EPS for the current fiscal year. The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.44%. Banc of California’s dividend payout ratio is presently 27.08%.

Banc of California (NYSE:BANC) last announced its quarterly earnings results on Wednesday, May 3rd. The bank reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. Banc of California had a return on equity of 17.48% and a net margin of 17.57%. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $151.51 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Analysts predict that Banc of California Inc will post $1.19 EPS for the current fiscal year. A number of brokerages have issued reports on BANC. ValuEngine raised shares of Banc of California from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods downgraded shares of Banc of California from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research report on Thursday, May 4th. FBR & Co reduced their target price on shares of Banc of California from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, May 4th. Wells Fargo & Co raised shares of Banc of California from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 11th. Finally, Zacks Investment Research downgraded shares of Banc of California from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.00.

In other news, EVP John C. Grosvenor sold 14,979 shares of Banc of California stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $20.50, for a total value of $307,069.50. Following the completion of the sale, the executive vice president now directly owns 42,715 shares in the company, valued at $875,657.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey T. Seabold sold 10,000 shares of Banc of California stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now owns 197,557 shares of the company’s stock, valued at $3,951,140. The disclosure for this sale can be found here. Insiders own 6.13% of the company’s stock. Banc of California Company Profile

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BANC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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