First Dallas Securities Inc. Raises Stock Holdings in Banc of California, Inc. (NYSE:BANC)

First Dallas Securities Inc. boosted its holdings in shares of Banc of California, Inc. (NYSE:BANC) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 77,975 shares of the bank’s stock after purchasing an additional 16,000 shares during the period. First Dallas Securities Inc.’s holdings in Banc of California were worth $1,205,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Banc of California in the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in shares of Banc of California by 32.3% in the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after acquiring an additional 734 shares in the last quarter. KBC Group NV lifted its position in shares of 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 acquiring an additional 3,026 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Banc of California in the third quarter valued at approximately $158,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Banc of California in the third quarter valued at approximately $167,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BANC. Keefe, Bruyette & Woods raised their target price on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com raised Banc of California from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Stephens cut their price target on Banc of California from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. DA Davidson increased their price target on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush increased their price target on Banc of California from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Banc of California Trading Down 1.6 %

BANC opened at $15.76 on Tuesday. Banc of California, Inc. has a 52 week low of $11.88 and a 52 week high of $18.08. The business has a fifty day simple moving average of $16.10 and a 200-day simple moving average of $15.14. The firm has a market cap of $2.50 billion, a P/E ratio of 28.14 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.28 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%. On average, equities analysts expect that Banc of California, Inc. will post 1.35 earnings per share for the current year.

Banc of California Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were issued a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.54%. Banc of California’s dividend payout ratio (DPR) is presently 71.43%.

About Banc of California

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.