Banc of California, Inc. (NYSE:BANC) is Endeavour Capital Advisors Inc.'s 7th Largest Position

Endeavour Capital Advisors Inc. lowered its position in Banc of California, Inc. (NYSE:BANC - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 829,893 shares of the bank's stock after selling 69,138 shares during the quarter. Banc of California comprises 4.1% of Endeavour Capital Advisors Inc.'s investment portfolio, making the stock its 7th largest holding. Endeavour Capital Advisors Inc. owned approximately 0.52% of Banc of California worth $12,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PL Capital Advisors LLC lifted its position in shares of Banc of California by 1,446.0% during the fourth quarter. PL Capital Advisors LLC now owns 46,754,426 shares of the bank's stock worth $722,823,000 after acquiring an additional 43,730,207 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Banc of California by 274.6% during the 4th quarter. Wellington Management Group LLP now owns 5,393,076 shares of the bank's stock worth $83,377,000 after purchasing an additional 3,953,380 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Banc of California by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,556,614 shares of the bank's stock worth $39,525,000 after purchasing an additional 62,269 shares during the period. Hodges Capital Management Inc. grew its holdings in Banc of California by 10.7% during the 4th quarter. Hodges Capital Management Inc. now owns 2,281,410 shares of the bank's stock valued at $35,270,000 after buying an additional 221,125 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Banc of California by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,252,528 shares of the bank's stock valued at $19,364,000 after buying an additional 19,076 shares during the period. 86.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BANC has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Banc of California from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Raymond James lifted their price objective on Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Stephens decreased their target price on Banc of California from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. initiated coverage on Banc of California in a research report on Friday, February 7th. They set a "neutral" rating and a $18.00 price target for the company. Finally, Wells Fargo & Company upgraded shares of Banc of California from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $17.00 to $20.00 in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.18.

Banc of California Trading Down 5.0 %

Banc of California stock traded down $0.65 during mid-day trading on Friday, hitting $12.32. The company's stock had a trading volume of 6,223,496 shares, compared to its average volume of 2,250,822. The business has a 50 day moving average price of $14.84 and a 200-day moving average price of $15.39. Banc of California, Inc. has a 12 month low of $11.88 and a 12 month high of $18.08. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 21.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89.

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

Banc of California Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 3.25%. Banc of California's payout ratio is currently 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.