11,865 Shares in Banc of California, Inc. (NYSE:BANC) Acquired by Inceptionr LLC

Inceptionr LLC purchased a new stake in Banc of California, Inc. (NYSE:BANC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,865 shares of the bank’s stock, valued at approximately $183,000.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Banc of California in the fourth quarter valued at approximately $36,000. Jones Financial Companies Lllp lifted its stake in Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock valued at $55,000 after buying an additional 928 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Banc of California by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock valued at $68,000 after buying an additional 2,926 shares in the last quarter. KBC Group NV lifted its stake in Banc of California by 71.0% in the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after buying an additional 3,026 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Banc of California in the third quarter valued at approximately $158,000. Institutional investors own 86.88% of the company’s stock.

Banc of California Price Performance

Shares of BANC opened at $12.97 on Tuesday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 23.15 and a beta of 1.18. Banc of California, Inc. has a 1-year low of $11.88 and a 1-year high of $18.08. The company’s fifty day simple moving average is $15.49 and its 200 day simple moving average is $15.43. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. On average, research analysts forecast that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 3.09%. Banc of California’s dividend payout ratio (DPR) is 71.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Raymond James lifted their price objective on shares of Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. began coverage on shares of Banc of California in a report on Friday, February 7th. They issued a “neutral” rating and a $18.00 price objective on the stock. Stephens lowered their price objective on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $20.00 in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.