Dana Investment Advisors Inc. Has $5.68 Million Stake in Banc of California, Inc. (NYSE:BANC)

Dana Investment Advisors Inc. decreased its stake in Banc of California, Inc. (NYSE:BANC - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 367,117 shares of the bank's stock after selling 21,155 shares during the quarter. Dana Investment Advisors Inc. owned 0.23% of Banc of California worth $5,676,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of Banc of California during the fourth quarter valued at $400,000. Proficio Capital Partners LLC acquired a new stake in Banc of California during the 4th quarter worth about $360,000. Charles Schwab Investment Management Inc. boosted its position in Banc of California by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,252,528 shares of the bank's stock worth $19,364,000 after acquiring an additional 19,076 shares during the period. SBI Securities Co. Ltd. purchased a new position in Banc of California during the 4th quarter valued at about $36,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Banc of California by 35.1% in the 4th 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 during the period. Hedge funds and other institutional investors own 86.88% of the company's stock.

Banc of California Stock Performance

Banc of California stock traded down $0.84 during trading hours on Monday, reaching $12.97. 2,888,787 shares of the company were exchanged, compared to its average volume of 1,971,400. Banc of California, Inc. has a 12 month low of $11.88 and a 12 month high of $18.08. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $15.54 and a 200 day moving average of $15.44. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 23.15 and a beta of 1.18.

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Banc of California (NYSE:BANC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Banc of California, Inc. will post 1.31 earnings per share for the current year.

Banc of California Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, March 14th. Banc of California's dividend payout ratio (DPR) is currently 71.43%.

Analyst Ratings Changes

Several analysts recently commented on BANC shares. StockNews.com upgraded shares of Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on shares of Banc of California from $17.50 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. began coverage on shares of Banc of California in a research note on Friday, February 7th. They issued a "neutral" rating and a $18.00 price target on the stock. Barclays reduced their price objective on Banc of California from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised Banc of California from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $17.00 to $20.00 in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.18.

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.