Curi RMB Capital LLC Sells 150,000 Shares of Banc of California, Inc. (NYSE:BANC)

Curi RMB Capital LLC lowered its position in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,000 shares of the bank's stock after selling 150,000 shares during the quarter. Curi RMB Capital LLC owned approximately 0.09% of Banc of California worth $2,319,000 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. First Trust Advisors LP lifted its holdings in shares of Banc of California by 261.5% during the 4th quarter. First Trust Advisors LP now owns 133,393 shares of the bank's stock valued at $2,062,000 after purchasing an additional 96,497 shares in the last quarter. Salzhauer Michael grew its stake in shares of Banc of California by 19.7% during the 4th quarter. Salzhauer Michael now owns 377,576 shares of the bank's stock worth $5,837,000 after acquiring an additional 62,037 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Banc of California by 1,938.1% in the fourth quarter. Marshall Wace LLP now owns 236,420 shares of the bank's stock worth $3,655,000 after purchasing an additional 224,820 shares in the last quarter. Keeley Teton Advisors LLC grew its position in Banc of California by 8.2% in the fourth quarter. Keeley Teton Advisors LLC now owns 44,162 shares of the bank's stock valued at $683,000 after purchasing an additional 3,362 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Banc of California by 30.6% in the 4th quarter. Jump Financial LLC now owns 215,690 shares of the bank's stock valued at $3,335,000 after acquiring an additional 50,479 shares in the last quarter. 86.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BANC. StockNews.com raised shares of Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Stephens decreased their target price on shares of Banc of California from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Robert W. Baird cut their price target on Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday. JPMorgan Chase & Co. assumed coverage on Banc of California in a research note on Friday, February 7th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Barclays reduced their price objective on 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. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.67.

Banc of California Trading Down 2.0 %

Shares of BANC stock traded down $0.27 on Friday, hitting $13.20. 3,050,920 shares of the company's stock traded hands, compared to its average volume of 2,350,754. The company's fifty day simple moving average is $13.74 and its 200 day simple moving average is $15.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90. Banc of California, Inc. has a one year low of $11.52 and a one year high of $18.08. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 23.57 and a beta of 0.85.

Banc of California (NYSE:BANC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Equities analysts forecast that Banc of California, Inc. will post 1.31 EPS for the current year.

Banc of California Announces Dividend

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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.03%. Banc of California's dividend payout ratio is currently 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.