Banc of California, Inc. (NYSE:BANC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in Banc of California, Inc. (NYSE:BANC - Free Report) by 65.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,154 shares of the bank's stock after selling 218,528 shares during the period. Price T Rowe Associates Inc. MD owned 0.07% of Banc of California worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BANC. Picton Mahoney Asset Management purchased a new position in shares of Banc of California in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Banc of California in the fourth quarter worth $36,000. Jones Financial Companies Lllp increased its position in shares of Banc of California by 35.1% during the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock worth $55,000 after purchasing an additional 928 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Banc of California by 205.8% during 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 last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Banc of California in the 4th quarter worth $97,000. 86.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director James Andrew Barker purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were purchased at an average cost of $13.16 per share, with a total value of $131,600.00. Following the purchase, the director now owns 169,680 shares of the company's stock, valued at $2,232,988.80. This represents a 6.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.69% of the company's stock.

Wall Street Analysts Forecast Growth

BANC has been the subject of a number of research analyst reports. Stephens reiterated an "equal weight" rating and issued a $15.00 price target on shares of Banc of California in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on shares of Banc of California from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Raymond James boosted their target price on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Banc of California from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Finally, Barclays lowered their price objective 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. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.25.

Banc of California Stock Performance

Shares of BANC stock traded down $0.12 on Friday, hitting $13.79. The company had a trading volume of 1,849,996 shares, compared to its average volume of 2,352,217. Banc of California, Inc. has a twelve month low of $11.52 and a twelve 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 cap of $2.19 billion, a P/E ratio of 24.63 and a beta of 0.69. The company has a 50-day moving average price of $13.48 and a 200-day moving average price of $15.10.

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, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $266.01 million for the quarter, compared to the consensus estimate of $272.36 million. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts predict that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 16th. Banc of California's payout ratio is presently 61.54%.

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.