Banc of California, Inc. (NYSE:BANC) Position Increased by Jump Financial LLC

Jump Financial LLC boosted its stake in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,690 shares of the bank's stock after purchasing an additional 50,479 shares during the quarter. Jump Financial LLC owned approximately 0.14% of Banc of California worth $3,335,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Banc of California by 5.8% in the 3rd quarter. FMR LLC now owns 20,659 shares of the bank's stock worth $304,000 after buying an additional 1,126 shares in the last quarter. Barclays PLC boosted its position in Banc of California by 4.4% during the 3rd quarter. Barclays PLC now owns 425,634 shares of the bank's stock worth $6,270,000 after acquiring an additional 17,876 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Banc of California in the third quarter worth $167,000. World Investment Advisors LLC increased its holdings in shares of Banc of California by 4.5% during the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank's stock valued at $266,000 after purchasing an additional 779 shares during the period. Finally, Oliver Luxxe Assets LLC bought a new stake in shares of Banc of California during the fourth quarter valued at about $1,323,000. 86.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BANC has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of 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. StockNews.com upgraded shares of Banc of California from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Stephens cut their target price on Banc of California from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Barclays lowered their price target on Banc of California from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Raymond James upped their price objective on Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Banc of California presently has an average rating of "Moderate Buy" and an average price target of $17.73.

Banc of California Trading Up 3.7 %

Shares of NYSE:BANC traded up $0.49 during mid-day trading on Wednesday, hitting $13.85. The stock had a trading volume of 1,150,882 shares, compared to its average volume of 2,571,042. The company's 50 day moving average is $13.87 and its 200-day moving average is $15.20. Banc of California, Inc. has a 12-month low of $11.52 and a 12-month 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. The company has a market cap of $2.20 billion, a PE ratio of 24.73 and a beta of 0.85.

Banc of California (NYSE:BANC - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. On average, sell-side analysts predict that Banc of California, Inc. will post 1.31 EPS for the current year.

Banc of California Dividend Announcement

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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, March 14th. Banc of California's dividend payout ratio (DPR) is 71.43%.

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.