Curi RMB Capital LLC Grows Stock Position in Banc of California, Inc. (NYSE:BANC)

Curi RMB Capital LLC lifted its holdings in shares of Banc of California, Inc. (NYSE:BANC - Free Report) by 36.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the bank's stock after purchasing an additional 80,707 shares during the quarter. Curi RMB Capital LLC owned 0.19% of Banc of California worth $4,419,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BANC. Sei Investments Co. boosted its position in shares of Banc of California by 86.0% during the 1st quarter. Sei Investments Co. now owns 506,202 shares of the bank's stock worth $7,699,000 after acquiring an additional 234,021 shares in the last quarter. ProShare Advisors LLC lifted its stake in Banc of California by 12.4% in the 1st quarter. ProShare Advisors LLC now owns 27,701 shares of the bank's stock valued at $421,000 after purchasing an additional 3,058 shares during the last quarter. Vanguard Group Inc. boosted its position in Banc of California by 17.6% in the first quarter. Vanguard Group Inc. now owns 10,597,751 shares of the bank's stock valued at $161,192,000 after buying an additional 1,582,941 shares in the last quarter. American International Group Inc. grew its stake in shares of Banc of California by 3.7% during the first quarter. American International Group Inc. now owns 74,095 shares of the bank's stock worth $1,127,000 after buying an additional 2,653 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Banc of California by 8.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 117,025 shares of the bank's stock worth $1,780,000 after buying an additional 9,312 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Banc of California Trading Down 0.5 %

Banc of California stock traded down $0.09 during mid-day trading on Friday, reaching $16.22. 1,533,328 shares of the company traded hands, compared to its average volume of 2,352,085. Banc of California, Inc. has a 52-week low of $11.36 and a 52-week high of $16.92. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -3.80 and a beta of 1.13. The firm's 50 day moving average price is $15.00 and its 200 day moving average price is $14.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

Banc of California (NYSE:BANC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.11. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. The business had revenue of $431.44 million during the quarter, compared to analyst estimates of $229.46 million. During the same quarter last year, the company earned $0.30 EPS. On average, analysts anticipate that Banc of California, Inc. will post 0.71 earnings per share for the current fiscal year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, December 16th. Banc of California's payout ratio is currently -9.37%.

Insider Activity

In related news, Director Richard J. Lashley sold 75,000 shares of Banc of California stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.00, for a total transaction of $1,050,000.00. Following the transaction, the director now directly owns 719,826 shares of the company's stock, valued at $10,077,564. This trade represents a 9.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 7.37% of the company's stock.

Wall Street Analysts Forecast Growth

BANC has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Banc of California from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Citigroup started coverage on shares of Banc of California in a research report on Thursday, October 10th. They set a "neutral" rating and a $15.00 target price on the stock. Barclays upgraded shares of Banc of California from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $17.00 to $18.00 in a research report on Thursday, October 31st. Wedbush increased their target price on shares of Banc of California from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Finally, DA Davidson raised their target price on Banc of California from $16.50 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.30.

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.