22,385 Shares in Banc of California, Inc. (NYSE:BANC) Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in shares of Banc of California, Inc. (NYSE:BANC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,385 shares of the bank's stock, valued at approximately $346,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Banc of California in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Banc of California in the 4th quarter valued at $36,000. Jones Financial Companies Lllp increased its position 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 buying an additional 928 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Banc of California by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank's stock worth $68,000 after buying an additional 2,926 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Banc of California by 71.0% in the fourth quarter. KBC Group NV now owns 7,286 shares of the bank's stock valued at $113,000 after acquiring an additional 3,026 shares during the period. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on BANC shares. Raymond James raised their price target on shares of Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Wells Fargo & Company upgraded shares of Banc of California from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $17.00 to $20.00 in a research report on Monday, January 6th. Barclays reduced their price target on Banc of California from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Banc of California from $17.50 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Banc of California from a "sell" rating to a "hold" 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 company's stock. Based on data from MarketBeat.com, Banc of California has a consensus rating of "Moderate Buy" and a consensus target price of $18.18.

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Banc of California Price Performance

NYSE BANC traded down $0.36 during trading on Friday, hitting $14.15. 2,424,020 shares of the company's stock were exchanged, compared to its average volume of 2,210,040. The company has a market cap of $2.25 billion, a PE ratio of 25.26 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, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $18.08. The stock's 50 day moving average price is $15.09 and its two-hundred day moving average price is $15.43.

Banc of California (NYSE:BANC - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. Research analysts expect 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 will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, March 14th. Banc of California's payout ratio 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.