Numerai GP LLC Buys 17,565 Shares of Banc of California, Inc. (NYSE:BANC)

Numerai GP LLC grew its holdings in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 24.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,942 shares of the bank's stock after buying an additional 17,565 shares during the quarter. Numerai GP LLC owned approximately 0.06% of Banc of California worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BANC. SBI Securities Co. Ltd. acquired a new position in shares of Banc of California during the 4th quarter worth about $36,000. Swiss National Bank increased its stake in shares of Banc of California by 0.9% during the 4th quarter. Swiss National Bank now owns 280,214 shares of the bank's stock worth $4,332,000 after purchasing an additional 2,600 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Banc of California by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,252,528 shares of the bank's stock worth $19,364,000 after purchasing an additional 19,076 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Banc of California during the 4th quarter worth about $360,000. Finally, Franklin Resources Inc. acquired a new position in shares of Banc of California during the 4th quarter worth about $332,000. 86.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Banc of California from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Barclays decreased their price target on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Raymond James upped their price target on shares of Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Stephens reiterated an "equal weight" rating and issued a $15.00 price target on shares of Banc of California in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.09.

Banc of California Stock Performance

Shares of NYSE:BANC traded up $0.03 on Friday, reaching $14.45. 1,925,571 shares of the company's stock were exchanged, compared to its average volume of 2,311,548. The company has a fifty day moving average of $13.58 and a 200-day moving average of $15.07. Banc of California, Inc. has a twelve month low of $11.52 and a twelve month high of $18.08. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 25.79 and a beta of 0.69. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $266.01 million for the quarter, compared to analyst estimates of $272.36 million. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. On average, research analysts predict that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.77%. Banc of California's dividend payout ratio is 61.54%.

Insider Buying and Selling

In other news, Director James Andrew Barker purchased 10,000 shares of Banc of California stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average price of $13.16 per share, for a total transaction of $131,600.00. Following the transaction, the director now owns 169,680 shares of the company's stock, valued at approximately $2,232,988.80. The trade was a 6.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.69% of the stock is currently owned by company insiders.

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.