New York State Common Retirement Fund Has $9.16 Million Holdings in Banc of California, Inc. (NYSE:BANC)

New York State Common Retirement Fund grew its position in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 645,519 shares of the bank's stock after purchasing an additional 165,607 shares during the quarter. New York State Common Retirement Fund owned 0.41% of Banc of California worth $9,160,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BANC. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 644,330 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Banc of California by 274.6% during the 4th quarter. Wellington Management Group LLP now owns 5,393,076 shares of the bank's stock valued at $83,377,000 after buying an additional 3,953,380 shares during the last quarter. Millennium Management LLC raised its position in Banc of California by 2,119.0% during the fourth quarter. Millennium Management LLC now owns 2,876,914 shares of the bank's stock valued at $44,477,000 after acquiring an additional 2,747,262 shares in the last quarter. Basswood Capital Management L.L.C. lifted its stake in Banc of California by 7.2% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,858,527 shares of the bank's stock valued at $28,733,000 after acquiring an additional 125,633 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Banc of California by 10.3% in the fourth quarter. Northern Trust Corp now owns 1,629,512 shares of the bank's stock worth $25,192,000 after purchasing an additional 152,032 shares in the last quarter. Institutional investors own 86.88% of the company's stock.

Analyst Ratings Changes

BANC has been the subject of a number of research analyst reports. Robert W. Baird cut their target price on shares of Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Barclays lifted their price objective on Banc of California from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Stephens restated an "equal weight" rating and issued a $15.00 target price on shares of Banc of California in a research note on Monday, April 28th. Wells Fargo & Company decreased their price target on 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, JPMorgan Chase & Co. upped their target price on shares of Banc of California from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Banc of California has an average rating of "Moderate Buy" and an average target price of $17.33.

Banc of California Trading Up 0.6%

Shares of BANC stock traded up $0.10 on Tuesday, reaching $15.10. 2,745,832 shares of the stock were exchanged, compared to its average volume of 2,309,240. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. 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 cap of $2.23 billion, a PE ratio of 23.22 and a beta of 0.67. The stock has a 50 day moving average price of $14.18 and a 200 day moving average price of $14.38.

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 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 the consensus estimate of $272.36 million. Banc of California had a return on equity of 6.30% and a net margin of 8.23%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. Equities research analysts forecast that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, June 16th. Banc of California's dividend payout ratio is currently 61.54%.

Insider Transactions at Banc of California

In related news, insider Olivia I. Lindsay sold 11,000 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.58, for a total value of $149,380.00. Following the completion of the transaction, the insider directly owned 30,902 shares of the company's stock, valued at approximately $419,649.16. This represents a 26.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Andrew Barker purchased 10,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was purchased at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the purchase, the director directly owned 169,680 shares in the company, valued at approximately $2,232,988.80. This trade represents a 6.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 86,000 shares of company stock valued at $1,208,000 over the last 90 days. 2.69% of the stock is 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.