Banc of California, Inc. (NYSE:BANC) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC increased its position in shares of Banc of California, Inc. (NYSE:BANC) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,296 shares of the bank’s stock after acquiring an additional 7,722 shares during the period. Tectonic Advisors LLC owned about 0.08% of Banc of California worth $1,983,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Banc of California in the 3rd quarter valued at about $29,000. GAMMA Investing LLC increased its stake in Banc of California by 32.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after purchasing an additional 734 shares in the last quarter. KBC Group NV increased its stake in Banc of California by 71.0% in the 4th quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after purchasing an additional 3,026 shares in the last quarter. Paloma Partners Management Co purchased a new position in Banc of California during the third quarter worth $158,000. Finally, Marshall Wace LLP purchased a new position in Banc of California during the second quarter worth $166,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

Banc of California Price Performance

BANC stock opened at $16.13 on Wednesday. Banc of California, Inc. has a 52-week low of $11.88 and a 52-week high of $18.08. The company has a fifty day moving average price of $16.08 and a 200-day moving average price of $15.15. The company has a market capitalization of $2.56 billion, a P/E ratio of 28.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. As a group, equities analysts expect that Banc of California, Inc. will post 1.35 EPS for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Monday, December 16th. Banc of California’s dividend payout ratio is 71.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BANC shares. DA Davidson lifted their price objective on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised Banc of California from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $17.00 to $20.00 in a report on Monday, January 6th. Citigroup assumed coverage on Banc of California in a research note on Thursday, October 10th. They set a “neutral” rating and a $15.00 price objective on the stock. Wedbush increased their price target on Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Banc of California presently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Banc of California Profile

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.