Marshall Wace LLP Raises Stock Position in Banc of California, Inc. (NYSE:BANC)

Marshall Wace LLP boosted its stake in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 1,938.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,420 shares of the bank's stock after acquiring an additional 224,820 shares during the quarter. Marshall Wace LLP owned approximately 0.15% of Banc of California worth $3,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new stake in shares of Banc of California during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Banc of California during the 4th quarter worth $36,000. Jones Financial Companies Lllp raised its position in shares of Banc of California by 35.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock valued at $55,000 after acquiring an additional 928 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Banc of California by 205.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank's stock valued at $68,000 after purchasing an additional 2,926 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Banc of California in the 4th quarter worth $97,000. 86.88% of the stock is owned by institutional investors.

Banc of California Stock Performance

Shares of BANC stock traded up $0.07 on Thursday, reaching $13.55. The stock had a trading volume of 465,192 shares, compared to its average volume of 2,352,227. Banc of California, Inc. has a 12 month low of $11.52 and a 12 month high of $18.08. 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 firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 24.24 and a beta of 0.85. The firm's 50-day moving average is $13.62 and its two-hundred day moving average is $15.17.

Banc of California (NYSE:BANC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $266.01 million during the quarter, compared to the consensus estimate of $272.36 million. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, research analysts expect that Banc of California, Inc. will post 1.31 EPS for the current fiscal year.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.95%. Banc of California's dividend payout ratio is currently 61.54%.

Analysts Set New Price Targets

Several equities analysts have weighed in on BANC shares. Wells Fargo & Company cut their target price 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. Barclays lowered 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 note on Tuesday, April 8th. Raymond James raised their price objective on Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Robert W. Baird reduced their target price on Banc of California from $19.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Stephens restated an "equal weight" rating and issued a $15.00 price target on shares of Banc of California in a report on Monday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.25.

Insiders Place Their Bets

In other Banc of California news, Director James Andrew Barker purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average cost of $13.16 per share, with a total value of $131,600.00. Following the completion of the transaction, the director now owns 169,680 shares in the company, valued at $2,232,988.80. The trade was a 6.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.69% of the company's stock.

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.