ExodusPoint Capital Management LP lessened its holdings in Banc of California, Inc. (NYSE:BANC - Free Report) by 73.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,600 shares of the bank's stock after selling 63,216 shares during the quarter. ExodusPoint Capital Management LP's holdings in Banc of California were worth $349,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in Banc of California by 5.8% during the 3rd quarter. FMR LLC now owns 20,659 shares of the bank's stock valued at $304,000 after purchasing an additional 1,126 shares during the period. Wellington Management Group LLP purchased a new position in shares of Banc of California during the third quarter valued at approximately $21,207,000. Barclays PLC raised its position in Banc of California by 4.4% in the 3rd quarter. Barclays PLC now owns 425,634 shares of the bank's stock valued at $6,270,000 after buying an additional 17,876 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Banc of California during the 3rd quarter worth $167,000. Finally, World Investment Advisors LLC lifted its holdings in Banc of California by 4.5% during the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank's stock worth $266,000 after acquiring an additional 779 shares during the period. 86.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BANC shares. StockNews.com raised shares of Banc of California from a "sell" rating to a "hold" rating in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Stephens dropped their target price on Banc of California from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Barclays decreased their price objective on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Raymond James boosted their price target on Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.73.
View Our Latest Stock Report on BANC
Banc of California Trading Up 1.7 %
Shares of BANC stock traded up $0.22 during trading hours on Friday, reaching $13.19. 2,775,006 shares of the stock were exchanged, compared to its average volume of 2,351,876. 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, Inc. has a 12-month low of $11.52 and a 12-month high of $18.08. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 23.55 and a beta of 0.85. The company's 50-day moving average price is $14.05 and its 200-day moving average price is $15.21.
Banc of California (NYSE:BANC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 6.20% and a net margin of 7.06%. As a group, equities analysts anticipate that Banc of California, Inc. will post 1.31 earnings per share for the current year.
Banc of California Dividend Announcement
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. This represents a $0.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, March 14th. Banc of California's payout ratio is 71.43%.
About Banc of California
(
Free Report)
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.
Featured Articles
Before you consider Banc of California, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Banc of California wasn't on the list.
While Banc of California currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
