XTX Topco Ltd Invests $1.14 Million in Banc of California, Inc. (NYSE:BANC)

XTX Topco Ltd bought a new position in Banc of California, Inc. (NYSE:BANC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 77,113 shares of the bank's stock, valued at approximately $1,136,000.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its position in Banc of California by 146.3% during the second quarter. Fifth Third Bancorp now owns 2,143 shares of the bank's stock valued at $27,000 after purchasing an additional 1,273 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Banc of California in the third quarter worth approximately $29,000. GAMMA Investing LLC grew its position in Banc of California by 32.3% in the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank's stock worth $44,000 after acquiring an additional 734 shares in the last quarter. Mendon Capital Advisors Corp bought a new stake in Banc of California in the second quarter worth approximately $102,000. Finally, Simplicity Wealth LLC bought a new stake in Banc of California in the second quarter worth approximately $132,000. 86.88% of the stock is owned by hedge funds and other institutional investors.

Banc of California Stock Performance

NYSE:BANC traded down $0.02 during trading hours on Tuesday, hitting $16.79. 1,192,987 shares of the company traded hands, compared to its average volume of 2,329,650. Banc of California, Inc. has a twelve month low of $11.88 and a twelve month high of $18.08. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -3.94 and a beta of 1.14. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $15.75 and a 200 day moving average of $14.38.

Banc of California (NYSE:BANC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.11. The company had revenue of $431.44 million during the quarter, compared to the consensus estimate of $229.46 million. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. During the same period last year, the firm earned $0.30 EPS. On average, analysts forecast that Banc of California, Inc. will post 0.7 EPS for the current year.

Banc of California Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, December 16th. Banc of California's dividend payout ratio (DPR) is currently -9.37%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BANC shares. Wells Fargo & Company boosted their target price on shares of Banc of California from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Banc of California from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Raymond James boosted their target price on shares of Banc of California from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Banc of California from $17.50 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Stephens boosted their price objective on shares of Banc of California from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.80.

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.