Banc of California, Inc. $BANC Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Banc of California by 445% in Q4 to 144,758 shares (approximately $2.79M), representing about 0.10% ownership.
• Banc of California beat Q4 estimates with $0.42 EPS vs. $0.37 expected and $292.9M in revenue, and analysts forecast roughly 1.31 EPS for the current year.
• The bank raised its quarterly dividend to $0.12 (annualized $0.48), up from $0.10, yielding 2.7% with a payout ratio around 40.7%.

SG Americas Securities LLC lifted its stake in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 445.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,758 shares of the bank's stock after buying an additional 118,198 shares during the quarter. SG Americas Securities LLC owned approximately 0.10% of Banc of California worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BANC. Triumph Capital Management bought a new position in Banc of California during the 3rd quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Banc of California in the 3rd quarter worth about $36,000. Aster Capital Management DIFC Ltd increased its position in shares of Banc of California by 145.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,181 shares of the bank's stock worth $69,000 after purchasing an additional 2,475 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Banc of California in the 3rd quarter valued at about $70,000. Finally, Osaic Holdings Inc. lifted its position in shares of Banc of California by 210.8% during the second quarter. Osaic Holdings Inc. now owns 5,809 shares of the bank's stock worth $82,000 after purchasing an additional 3,940 shares during the last quarter. Institutional investors own 86.88% of the company's stock.

Banc of California Price Performance

BANC opened at $17.61 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The company's 50-day moving average price is $18.65 and its 200 day moving average price is $18.37. Banc of California, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $21.61. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 14.92 and a beta of 0.74.

Banc of California (NYSE:BANC - Get Free Report) last issued its earnings results on Wednesday, January 21st. The bank reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.05. The company had revenue of $292.93 million during the quarter, compared to the consensus estimate of $288.41 million. Banc of California had a return on equity of 8.66% and a net margin of 12.59%.During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, sell-side analysts expect that Banc of California, Inc. will post 1.31 earnings per share for the current year.

Banc of California Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, March 16th. This is an increase from Banc of California's previous quarterly dividend of $0.10. Banc of California's dividend payout ratio (DPR) is currently 40.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Banc of California from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Monday, March 30th. JPMorgan Chase & Co. reduced their target price on Banc of California from $25.00 to $20.50 and set an "overweight" rating on the stock in a report on Wednesday. Barclays lifted their target price on Banc of California from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods upped their price target on Banc of California from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, January 23rd. Finally, Piper Sandler reduced their price objective on Banc of California from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $20.45.

About Banc of California

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.

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