Victory Capital Management Inc. Boosts Stock Holdings in Banc of California, Inc. (NYSE:BANC)

Victory Capital Management Inc. boosted its position in Banc of California, Inc. (NYSE:BANCGet Rating) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,237,921 shares of the bank’s stock after purchasing an additional 15,676 shares during the period. Victory Capital Management Inc. owned about 1.98% of Banc of California worth $23,925,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Banc of California in the fourth quarter valued at approximately $33,000. Strs Ohio bought a new stake in Banc of California during the 4th quarter valued at $45,000. Mutual of America Capital Management LLC raised its holdings in Banc of California by 23.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 7,391 shares of the bank’s stock valued at $145,000 after acquiring an additional 1,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Banc of California by 90.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,674 shares of the bank’s stock valued at $170,000 after acquiring an additional 4,125 shares during the period. Finally, Wellington Shields Capital Management LLC bought a new stake in Banc of California during the 4th quarter valued at $196,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BANC shares. Raymond James cut shares of Banc of California from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. TheStreet raised shares of Banc of California from a “c+” rating to a “b” rating in a report on Friday, April 22nd. StockNews.com cut shares of Banc of California from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Piper Sandler decreased their price target on shares of Banc of California to $22.00 in a report on Monday, July 4th. Finally, Stephens upped their price target on shares of Banc of California from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, April 25th.

Banc of California Trading Up 0.8 %

Shares of BANC stock opened at $17.21 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $18.72. Banc of California, Inc. has a 12-month low of $16.72 and a 12-month high of $22.09. The firm has a market cap of $1.06 billion, a P/E ratio of 10.69 and a beta of 1.35.

Banc of California (NYSE:BANCGet Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $85.49 million during the quarter, compared to the consensus estimate of $85.95 million. Banc of California had a return on equity of 12.37% and a net margin of 29.80%. During the same quarter in the previous year, the company posted $0.32 EPS. Equities analysts anticipate that Banc of California, Inc. will post 2.09 EPS for the current fiscal year.

Banc of California Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were given a $0.06 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.39%. Banc of California’s payout ratio is 14.91%.

Banc of California Profile

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Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.

See Also

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

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