Deutsche Bank AG Has $1.81 Million Stock Position in Banc of California, Inc. (NYSE:BANC)

Deutsche Bank AG increased its stake in Banc of California, Inc. (NYSE:BANC - Free Report) by 54.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,822 shares of the bank's stock after acquiring an additional 41,217 shares during the period. Deutsche Bank AG owned approximately 0.07% of Banc of California worth $1,806,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Banc of California in the 4th quarter worth approximately $4,775,000. Cetera Investment Advisers acquired a new position in Banc of California in the 4th quarter valued at approximately $178,000. Brevan Howard Capital Management LP raised its holdings in shares of Banc of California by 13.0% during the fourth quarter. Brevan Howard Capital Management LP now owns 65,184 shares of the bank's stock worth $1,008,000 after acquiring an additional 7,512 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Banc of California by 14.6% during the 4th quarter. Bank of America Corp DE now owns 485,575 shares of the bank's stock valued at $7,507,000 after buying an additional 61,693 shares during the last quarter. Finally, Basswood Capital Management L.L.C. raised its holdings in shares of Banc of California by 7.2% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,858,527 shares of the bank's stock valued at $28,733,000 after purchasing an additional 125,633 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Banc of California

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Jefferies Financial Group started coverage on Banc of California in a research note on Wednesday, May 21st. They issued a "buy" rating and a $18.00 price objective on the stock. Barclays dropped their target price on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced 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. Finally, Stephens reissued an "equal weight" rating and set a $15.00 price target on shares of Banc of California in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.17.

Banc of California Trading Up 0.5%

NYSE:BANC traded up $0.08 during trading hours on Thursday, hitting $13.86. The stock had a trading volume of 2,437,527 shares, compared to its average volume of 2,290,580. The business's 50 day moving average is $13.56 and its 200-day moving average is $14.95. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 24.74 and a beta of 0.69. Banc of California, Inc. has a one year low of $11.52 and a one year high of $18.08. 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 (NYSE:BANC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $266.01 million during the quarter, compared to analysts' expectations of $272.36 million. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Sell-side analysts anticipate that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.89%. Banc of California's dividend payout ratio is currently 61.54%.

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.