Banc of California, Inc. (NYSE:BANC) Position Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Banc of California, Inc. (NYSE:BANC - Free Report) by 26.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 437,593 shares of the bank's stock after buying an additional 91,225 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Banc of California worth $6,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PL Capital Advisors LLC lifted its stake in Banc of California by 1,446.0% in the fourth quarter. PL Capital Advisors LLC now owns 46,754,426 shares of the bank's stock worth $722,823,000 after purchasing an additional 43,730,207 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Banc of California by 274.6% in the 4th quarter. Wellington Management Group LLP now owns 5,393,076 shares of the bank's stock valued at $83,377,000 after acquiring an additional 3,953,380 shares during the period. Millennium Management LLC lifted its stake in Banc of California by 2,119.0% during the 4th 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 during the period. Algert Global LLC grew its stake in shares of Banc of California by 701.9% during the 4th quarter. Algert Global LLC now owns 952,674 shares of the bank's stock worth $14,728,000 after purchasing an additional 833,874 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Banc of California by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,913,012 shares of the bank's stock worth $168,716,000 after buying an additional 644,330 shares during the period. Institutional investors own 86.88% of the company's stock.

Banc of California Stock Performance

Shares of BANC traded up $0.24 during midday trading on Tuesday, hitting $13.86. 1,397,603 shares of the stock traded hands, compared to its average volume of 2,285,685. The business's 50 day moving average price is $13.52 and its two-hundred day moving average price is $14.89. The firm has a market capitalization of $2.05 billion, a PE ratio of 24.74 and a beta of 0.69. 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 1-year low of $11.52 and a 1-year high of $18.08.

Banc of California (NYSE:BANC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company 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%. Banc of California's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. Equities research analysts predict that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Dividend Announcement

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

Insider Buying and Selling

In other news, Director James Andrew Barker purchased 10,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were bought at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the transaction, the director now owns 169,680 shares in the company, valued at $2,232,988.80. This trade represents a 6.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Banc of California in a research report on Wednesday, May 21st. They issued a "buy" rating and a $18.00 price target for the company. Barclays decreased their price objective on 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. Stephens restated an "equal weight" rating and issued a $15.00 price target on shares of Banc of California in a report on Monday, April 28th. Wells Fargo & Company cut their target price on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Robert W. Baird dropped their price objective on Banc of California from $19.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.17.

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.