Aquatic Capital Management LLC Invests $2.12 Million in Banc of California, Inc. (NYSE:BANC)

Aquatic Capital Management LLC bought a new stake in shares of Banc of California, Inc. (NYSE:BANC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 136,820 shares of the bank's stock, valued at approximately $2,115,000. Aquatic Capital Management LLC owned approximately 0.09% of Banc of California at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Oxford Asset Management LLP purchased a new position in Banc of California in the fourth quarter valued at about $351,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Banc of California during the 4th quarter worth approximately $5,024,000. Penn Capital Management Company LLC purchased a new stake in Banc of California during the fourth quarter valued at approximately $9,326,000. T. Rowe Price Investment Management Inc. boosted its stake in Banc of California by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,913,012 shares of the bank's stock valued at $168,716,000 after acquiring an additional 644,330 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Banc of California in the fourth quarter worth $470,000. 86.88% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James Andrew Barker acquired 10,000 shares of Banc of California stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the completion of the purchase, the director now owns 169,680 shares of the company's stock, valued at $2,232,988.80. This represents a 6.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.69% of the stock is currently owned by corporate insiders.

Banc of California Stock Performance

Shares of NYSE:BANC traded up $0.34 during trading on Friday, hitting $13.73. 1,639,914 shares of the company traded hands, compared to its average volume of 2,355,938. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 24.52 and a beta of 0.85. The business's fifty day moving average is $13.57 and its 200-day moving average is $15.15. 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, Inc. has a one year low of $11.52 and a one year high of $18.08.

Banc of California (NYSE:BANC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $266.01 million for the quarter, compared to analysts' expectations of $272.36 million. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts predict that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, March 14th. Banc of California's dividend payout ratio (DPR) is 61.54%.

Analysts Set New Price Targets

BANC has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. StockNews.com raised Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of Banc of California from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Raymond James boosted their target price on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Finally, Robert W. Baird lowered their price objective on shares of Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.25.

Banc of California Company 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.