Public Sector Pension investment Board Has $550,000 Position in Banc of California, Inc. (BANC)

Public Sector Pension investment Board reduced its stake in Banc of California, Inc. (NYSE:BANC) by 26.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,600 shares of the bank’s stock after selling 9,400 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of Banc of California worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Banc of California during the first quarter worth approximately $109,000. State of Alaska Department of Revenue lifted its holdings in shares of Banc of California by 80.3% during the second quarter. State of Alaska Department of Revenue now owns 9,864 shares of the bank’s stock worth $212,000 after buying an additional 4,394 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Banc of California during the first quarter worth approximately $218,000. Mason Street Advisors LLC lifted its holdings in shares of Banc of California by 7.1% during the first quarter. Mason Street Advisors LLC now owns 11,594 shares of the bank’s stock worth $240,000 after buying an additional 771 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Banc of California by 22.0% during the first quarter. SG Americas Securities LLC now owns 14,430 shares of the bank’s stock worth $299,000 after buying an additional 2,600 shares during the last quarter.

A number of research analysts have recently commented on BANC shares. BidaskClub upgraded Banc of California from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $22.00 price target on Banc of California and gave the stock a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, July 11th. Finally, ValuEngine lowered Banc of California from a “buy” rating to a “hold” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.00.

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Shares of Banc of California, Inc. (NYSE:BANC) opened at 20.75 on Monday. The company has a market capitalization of $992.80 million, a PE ratio of 13.88 and a beta of 0.99. Banc of California, Inc. has a 52-week low of $10.93 and a 52-week high of $23.25. The stock’s 50 day moving average price is $19.21 and its 200-day moving average price is $20.43.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.04). Banc of California had a net margin of 17.12% and a return on equity of 14.44%. The business had revenue of $81.21 million during the quarter, compared to analyst estimates of $97.94 million. During the same period in the previous year, the business earned $0.46 earnings per share. On average, analysts expect that Banc of California, Inc. will post $0.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a $0.13 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. Banc of California’s payout ratio is 34.67%.

In other Banc of California news, CEO Douglas H. Bowers acquired 57,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $17.56 per share, with a total value of $1,000,920.00. Following the completion of the transaction, the chief executive officer now directly owns 92,000 shares in the company, valued at approximately $1,615,520. The transaction was disclosed in a legal filing with th

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Banc of California during the first quarter worth approximately $109,000. State of Alaska Department of Revenue lifted its holdings in shares of Banc of California by 80.3% during the second quarter. State of Alaska Department of Revenue now owns 9,864 shares of the bank’s stock worth $212,000 after buying an additional 4,394 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Banc of California during the first quarter worth approximately $218,000. Mason Street Advisors LLC lifted its holdings in shares of Banc of California by 7.1% during the first quarter. Mason Street Advisors LLC now owns 11,594 shares of the bank’s stock worth $240,000 after buying an additional 771 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Banc of California by 22.0% during the first quarter. SG Americas Securities LLC now owns 14,430 shares of the bank’s stock worth $299,000 after buying an additional 2,600 shares during the last quarter.

A number of research analysts have recently commented on BANC shares. BidaskClub upgraded Banc of California from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $22.00 price target on Banc of California and gave the stock a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, July 11th. Finally, ValuEngine lowered Banc of California from a “buy” rating to a “hold” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.00.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/public-sector-pension-investment-board-has-550000-position-in-banc-of-california-inc-banc.html.

Shares of Banc of California, Inc. (NYSE:BANC) opened at 20.75 on Monday. The company has a market capitalization of $992.80 million, a PE ratio of 13.88 and a beta of 0.99. Banc of California, Inc. has a 52-week low of $10.93 and a 52-week high of $23.25. The stock’s 50 day moving average price is $19.21 and its 200-day moving average price is $20.43.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.04). Banc of California had a net margin of 17.12% and a return on equity of 14.44%. The business had revenue of $81.21 million during the quarter, compared to analyst estimates of $97.94 million. During the same period in the previous year, the business earned $0.46 earnings per share. On average, analysts expect that Banc of California, Inc. will post $0.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a $0.13 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. Banc of California’s payout ratio is 34.67%.

In other Banc of California news, CEO Douglas H. Bowers acquired 57,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $17.56 per share, with a total value of $1,000,920.00. Following the completion of the transaction, the chief executive officer now directly owns 92,000 shares in the company, valued at approximately $1,615,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 16.89% of the company’s stock.

About Banc of California

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

Institutional Ownership by Quarter for Banc of California (NYSE:BANC)

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