Aigen Investment Management LP Buys Shares of 25,899 Banc of California, Inc. (NYSE:BANC)

Aigen Investment Management LP bought a new stake in Banc of California, Inc. (NYSE:BANC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,899 shares of the bank's stock, valued at approximately $400,000.

Several other large investors also recently bought and sold shares of BANC. SBI Securities Co. Ltd. purchased a new stake in shares of Banc of California in the 4th quarter worth about $36,000. Jones Financial Companies Lllp lifted its holdings in shares of Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock valued at $55,000 after purchasing an additional 928 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Banc of California by 205.8% in the fourth 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. KBC Group NV grew its holdings in Banc of California by 71.0% during the 4th quarter. KBC Group NV now owns 7,286 shares of the bank's stock valued at $113,000 after buying an additional 3,026 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Banc of California during the 3rd quarter worth about $158,000. Institutional investors and hedge funds own 86.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Banc of California from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $17.00 to $20.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on Banc of California from $17.50 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Raymond James upped their target price on 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 Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Finally, Stephens decreased their price target on Banc of California from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.18.

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Banc of California Price Performance

Shares of NYSE BANC traded up $0.39 during trading on Tuesday, hitting $13.33. The company had a trading volume of 3,279,925 shares, compared to its average volume of 1,999,054. Banc of California, Inc. has a 52 week low of $11.88 and a 52 week high of $18.08. The business's 50-day moving average is $15.49 and its 200 day moving average is $15.43. The company has a market cap of $2.12 billion, a P/E ratio of 23.81 and a beta of 1.18. 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 (NYSE:BANC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. Equities research analysts predict that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 14th. Banc of California's dividend payout ratio is presently 71.43%.

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.