Basswood Capital Management L.L.C. Has $28.73 Million Holdings in Banc of California, Inc. (NYSE:BANC)

Basswood Capital Management L.L.C. boosted its holdings in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,858,527 shares of the bank's stock after buying an additional 125,633 shares during the quarter. Banc of California makes up approximately 1.7% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 17th largest position. Basswood Capital Management L.L.C. owned approximately 1.17% of Banc of California worth $28,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Banc of California in the 4th quarter valued at about $36,000. Swiss National Bank grew its position in shares of Banc of California by 0.9% in the fourth quarter. Swiss National Bank now owns 280,214 shares of the bank's stock valued at $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 fourth 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 period. Proficio Capital Partners LLC bought a new position in shares of Banc of California during the fourth quarter worth approximately $360,000. Finally, Franklin Resources Inc. acquired a new stake in Banc of California during the 4th quarter worth approximately $332,000. Institutional investors own 86.88% of the company's stock.

Analyst Ratings Changes

BANC has been the subject of a number of research reports. Raymond James lifted their target price on Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Stephens reissued an "equal weight" rating and issued a $15.00 price objective on shares of Banc of California in a report on Monday, April 28th. StockNews.com raised shares of Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.25.

Banc of California Price Performance

NYSE BANC traded down $0.16 during trading on Friday, hitting $13.75. 1,102,837 shares of the company's stock were exchanged, compared to its average volume of 2,343,304. The company has a market cap of $2.18 billion, a PE ratio of 24.55 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, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $18.08. The stock's 50 day moving average price is $13.49 and its two-hundred day moving average price is $15.11.

Banc of California (NYSE:BANC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $266.01 million during the quarter, compared to the consensus estimate 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 was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. Research analysts expect that Banc of California, Inc. will post 1.31 EPS for the current year.

Insider Buying and Selling at Banc of California

In other Banc of California news, Director James Andrew Barker purchased 10,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was purchased at an average price of $13.16 per share, with a total value of $131,600.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.69% of the company's stock.

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.