Peregrine Capital Management LLC Has $8.45 Million Holdings in Banc of California, Inc. (NYSE:BANC)

Peregrine Capital Management LLC raised its stake in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 628,950 shares of the bank's stock after buying an additional 114,173 shares during the period. Peregrine Capital Management LLC owned about 1.09% of Banc of California worth $8,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Banc of California by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,021 shares of the bank's stock valued at $367,000 after buying an additional 829 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Banc of California by 4.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,435 shares of the bank's stock valued at $303,000 after purchasing an additional 955 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Banc of California by 5.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 18,167 shares of the bank's stock valued at $210,000 after purchasing an additional 980 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Banc of California by 14.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,649 shares of the bank's stock valued at $122,000 after purchasing an additional 994 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Banc of California by 34.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the bank's stock valued at $48,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company's stock.

Banc of California Stock Performance

BANC traded down $0.78 during trading on Wednesday, hitting $14.21. The stock had a trading volume of 2,671,422 shares, compared to its average volume of 2,481,516. The firm has a market cap of $2.23 billion, a PE ratio of -4.50 and a beta of 1.15. Banc of California, Inc. has a 12 month low of $9.72 and a 12 month high of $16.08. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $13.19.

Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The bank reported ($4.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($4.27). Banc of California had a positive return on equity of 1.14% and a negative net margin of 44.04%. The company had revenue of $193.06 million for the quarter, compared to the consensus estimate of $163.11 million. During the same quarter in the previous year, the firm posted $0.45 EPS. Analysts expect that Banc of California, Inc. will post 1.62 EPS for the current year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.81%. Banc of California's payout ratio is -12.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BANC shares. Keefe, Bruyette & Woods raised shares of Banc of California from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Friday, March 22nd. Truist Financial reaffirmed a "hold" rating and issued a $16.00 price objective on shares of Banc of California in a research note on Monday, April 1st. Wedbush lifted their price objective on shares of Banc of California from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. StockNews.com assumed coverage on shares of Banc of California in a research note on Monday, January 29th. They issued a "hold" rating for the company. Finally, Barclays assumed coverage on shares of Banc of California in a report on Friday, March 8th. They issued an "equal weight" rating and a $16.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $17.07.

Insider Transactions at Banc of California

In other news, insider Robert G. Dyck sold 10,000 shares of Banc of California stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $14.97, for a total transaction of $149,700.00. Following the sale, the insider now directly owns 24,979 shares in the company, valued at approximately $373,935.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company's stock.

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.