Kennedy Capital Management LLC Has $22.86 Million Position in Banc of California, Inc. (NYSE:BANC)

Kennedy Capital Management LLC raised its position in Banc of California, Inc. (NYSE:BANC - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,478,559 shares of the bank's stock after buying an additional 31,970 shares during the quarter. Banc of California comprises about 0.5% of Kennedy Capital Management LLC's holdings, making the stock its 26th largest position. Kennedy Capital Management LLC owned approximately 0.93% of Banc of California worth $22,859,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Crescent Grove Advisors LLC grew its stake in shares of Banc of California by 0.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 99,084 shares of the bank's stock worth $1,542,000 after purchasing an additional 664 shares during the period. CIBC Asset Management Inc grew its position in Banc of California by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 15,052 shares of the bank's stock worth $233,000 after buying an additional 683 shares during the period. World Investment Advisors LLC grew its position 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 buying an additional 779 shares during the period. Jones Financial Companies Lllp increased its holdings in Banc of California by 35.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank's stock valued at $55,000 after buying an additional 928 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Banc of California by 6.8% during the 4th quarter. Bank of Montreal Can now owns 16,341 shares of the bank's stock valued at $253,000 after acquiring an additional 1,038 shares during the period. Hedge funds and other institutional investors own 86.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Banc of California from $20.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Stephens cut their target price on shares of 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. Barclays decreased their target price on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. initiated coverage on Banc of California in a report on Friday, February 7th. They set a "neutral" rating and a $18.00 price objective on the stock. Finally, StockNews.com upgraded Banc of California from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Five 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 a consensus rating of "Moderate Buy" and an average price target of $17.73.

Banc of California Price Performance

Shares of NYSE:BANC traded up $0.36 during trading on Tuesday, reaching $12.99. The stock had a trading volume of 1,059,929 shares, compared to its average volume of 2,327,305. Banc of California, Inc. has a 52 week low of $11.52 and a 52 week high of $18.08. The business's 50-day moving average price is $14.25 and its 200 day moving average price is $15.25. The stock has a market capitalization of $2.06 billion, a PE ratio of 23.20 and a beta of 0.85. 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 quarterly earnings data 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 return on equity of 6.20% and a net margin of 7.06%. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, March 14th. Banc of California's dividend payout ratio is 71.43%.

Banc of California Profile

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.