28,292 Shares in Banc of California, Inc. $BANC Purchased by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC bought a new stake in shares of Banc of California, Inc. (NYSE:BANC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,292 shares of the bank’s stock, valued at approximately $497,000.

Other large investors also recently added to or reduced their stakes in the company. Navalign LLC bought a new position in Banc of California in the 4th quarter worth approximately $27,000. Triumph Capital Management bought a new stake in shares of Banc of California during the third quarter valued at approximately $25,000. Orion Capital Management LLC bought a new stake in shares of Banc of California during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Banc of California by 38.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,023 shares of the bank’s stock worth $39,000 after buying an additional 564 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Banc of California by 199.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,159 shares of the bank’s stock worth $42,000 after buying an additional 1,437 shares in the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on BANC shares. JPMorgan Chase & Co. raised their target price on shares of Banc of California from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Piper Sandler boosted their price target on shares of Banc of California from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings downgraded shares of Banc of California from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Barclays dropped their price objective on shares of Banc of California from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Wells Fargo & Company raised their price objective on Banc of California from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.69.

Banc of California Stock Down 1.2%

NYSE BANC opened at $21.23 on Friday. The stock has a 50 day moving average price of $19.73 and a 200-day moving average price of $19.24. Banc of California, Inc. has a one year low of $13.96 and a one year high of $21.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $3.27 billion, a P/E ratio of 16.21 and a beta of 0.73.

Banc of California (NYSE:BANC) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Banc of California had a net margin of 13.58% and a return on equity of 9.25%. The firm had revenue of $286.95 million for the quarter, compared to the consensus estimate of $291.28 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Banc of California, Inc. will post 1.71 EPS for the current fiscal year.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, June 15th. Banc of California’s dividend payout ratio is presently 36.64%.

Banc of California Company Profile

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.