William Blair Investment Management LLC Has $44.70 Million Stock Holdings in Banc of California, Inc. $BANC

William Blair Investment Management LLC boosted its stake in shares of Banc of California, Inc. (NYSE:BANC) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,317,363 shares of the bank’s stock after purchasing an additional 187,999 shares during the period. William Blair Investment Management LLC’s holdings in Banc of California were worth $44,702,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in Banc of California by 38.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,023 shares of the bank’s stock valued at $39,000 after purchasing an additional 564 shares during the last quarter. Amalgamated Bank raised its stake in Banc of California by 1.6% in the third quarter. Amalgamated Bank now owns 37,460 shares of the bank’s stock valued at $620,000 after buying an additional 585 shares during the period. PNC Financial Services Group Inc. raised its stake in Banc of California by 7.7% in the third quarter. PNC Financial Services Group Inc. now owns 10,804 shares of the bank’s stock valued at $179,000 after buying an additional 777 shares during the period. ProShare Advisors LLC raised its stake in Banc of California by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 25,028 shares of the bank’s stock valued at $483,000 after buying an additional 787 shares during the period. Finally, GAMMA Investing LLC raised its stake in Banc of California by 19.8% in the fourth quarter. GAMMA Investing LLC now owns 5,297 shares of the bank’s stock valued at $102,000 after buying an additional 874 shares during the period. 86.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BANC shares. Wells Fargo & Company upped their price objective on Banc of California from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. DA Davidson restated a “buy” rating and issued a $24.00 price objective on shares of Banc of California in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their price objective on Banc of California from $20.50 to $22.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Barclays dropped their price objective on Banc of California from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Piper Sandler upped their price objective on Banc of California from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.31.

Banc of California Price Performance

Shares of NYSE BANC opened at $18.83 on Monday. The firm has a market cap of $2.90 billion, a P/E ratio of 14.37 and a beta of 0.75. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. Banc of California, Inc. has a 1-year low of $13.24 and a 1-year high of $21.61. The business’s 50 day moving average is $18.14 and its 200-day moving average is $18.81.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Banc of California had a return on equity of 9.25% and a net margin of 13.58%.The firm had revenue of $286.95 million for the quarter, compared to analyst estimates of $291.28 million. During the same quarter last year, the company earned $0.26 EPS. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Banc of California, Inc. will post 1.72 earnings per share for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, June 15th. Banc of California’s dividend payout ratio (DPR) is 36.64%.

About Banc of California

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.