Great West Life Assurance Co. Can reduced its position in shares of Banc of California Inc (NYSE:BANC) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,404 shares of the bank’s stock after selling 11,344 shares during the quarter. Great West Life Assurance Co. Can owned about 0.13% of Banc of California worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BANC. Oppenheimer Asset Management Inc. boosted its position in shares of Banc of California by 13.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,991 shares of the bank’s stock worth $129,000 after purchasing an additional 718 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of Banc of California in the 3rd quarter worth $179,000. Quantbot Technologies LP boosted its position in shares of Banc of California by 193.0% in the 3rd quarter. Quantbot Technologies LP now owns 9,322 shares of the bank’s stock worth $193,000 after purchasing an additional 6,140 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in shares of Banc of California in the 2nd quarter worth $231,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Banc of California in the 2nd quarter worth $232,000.
A number of brokerages recently issued reports on BANC. FBR & Co restated a “buy” rating and issued a $24.00 target price on shares of Banc of California in a research note on Thursday, October 26th. ValuEngine lowered Banc of California from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Banc of California from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, January 1st. BidaskClub lowered Banc of California from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies began coverage on Banc of California in a research note on Thursday, December 21st. They issued an “overweight” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Banc of California currently has a consensus rating of “Buy” and a consensus target price of $23.50.
Banc of California Inc (NYSE BANC) traded down $0.02 during midday trading on Friday, hitting $21.45. The company’s stock had a trading volume of 707,794 shares, compared to its average volume of 804,755. The stock has a market cap of $1,070.00, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.50 and a beta of 0.97. Banc of California Inc has a twelve month low of $14.40 and a twelve month high of $23.40. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.91 and a quick ratio of 0.91.
Banc of California (NYSE:BANC) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Banc of California had a return on equity of 11.78% and a net margin of 15.48%. The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $84.24 million. During the same quarter in the previous year, the business earned $0.59 EPS. sell-side analysts expect that Banc of California Inc will post 0.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, December 14th. Banc of California’s dividend payout ratio is currently 49.06%.
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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.
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