Amundi Increases Stake in Banc of California, Inc. (NYSE:BANC)

Amundi increased its holdings in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 185.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,248 shares of the bank's stock after buying an additional 45,002 shares during the period. Amundi's holdings in Banc of California were worth $1,076,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Crescent Grove Advisors LLC increased its stake in Banc of California by 0.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 99,084 shares of the bank's stock worth $1,542,000 after buying an additional 664 shares during the period. CIBC Asset Management Inc increased its stake in Banc of California by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 15,052 shares of the bank's stock worth $233,000 after buying an additional 683 shares during the period. World Investment Advisors LLC grew its holdings in Banc of California by 4.5% during the 3rd quarter. World Investment Advisors LLC now owns 18,082 shares of the bank's stock worth $266,000 after acquiring an additional 779 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Banc of California by 35.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock worth $55,000 after acquiring an additional 928 shares in the last quarter. Finally, FMR LLC grew its holdings in Banc of California by 5.8% during the 3rd quarter. FMR LLC now owns 20,659 shares of the bank's stock worth $304,000 after acquiring an additional 1,126 shares in the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have commented on BANC. Barclays lowered their price target on shares of Banc of California from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. began coverage on shares of Banc of California in a report on Friday, February 7th. They set a "neutral" rating and a $18.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on shares of Banc of California from $17.50 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Finally, Raymond James boosted their price target on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.18.

Banc of California Stock Performance

BANC stock traded down $0.05 on Friday, hitting $14.05. The company's stock had a trading volume of 5,918,683 shares, compared to its average volume of 2,092,571. The firm has a 50 day moving average of $15.21 and a two-hundred day moving average of $15.39. Banc of California, Inc. has a 1 year low of $11.88 and a 1 year high of $18.08. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 25.08 and a beta of 1.18. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

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

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.10 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.85%. Banc of California's dividend payout ratio (DPR) is 71.43%.

About Banc of California

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.