Banc of California, Inc. (NYSE:BANC) Shares Acquired by Sippican Capital Advisors

Sippican Capital Advisors grew its stake in shares of Banc of California, Inc. (NYSE:BANC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,667 shares of the bank’s stock after purchasing an additional 2,057 shares during the period. Banc of California comprises about 1.4% of Sippican Capital Advisors’ holdings, making the stock its 23rd biggest holding. Sippican Capital Advisors owned 0.08% of Banc of California worth $1,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV lifted its holdings in shares of Banc of California by 71.0% in the fourth 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. Crescent Grove Advisors LLC boosted its position in Banc of California by 0.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 99,084 shares of the bank’s stock worth $1,542,000 after acquiring an additional 664 shares during the period. Oliver Luxxe Assets LLC acquired a new stake in Banc of California during the 4th quarter worth about $1,323,000. World Investment Advisors LLC grew its stake in Banc of California by 4.5% during the 3rd quarter. World Investment Advisors LLC now owns 18,082 shares of the bank’s stock valued at $266,000 after acquiring an additional 779 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Banc of California in the 3rd quarter valued at about $167,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush raised their price target on shares of Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com raised Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Stephens cut their price target on Banc of California from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday. Keefe, Bruyette & Woods boosted their price target on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays cut their price objective on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Banc of California Stock Up 0.0 %

BANC stock opened at $16.06 on Thursday. 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 50-day moving average of $16.17 and a two-hundred day moving average of $15.10. Banc of California, Inc. has a 52-week low of $11.88 and a 52-week high of $18.08.

Banc of California (NYSE:BANC) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. Equities analysts anticipate that Banc of California, Inc. will post 0.71 EPS for the current year.

Banc of California Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.49%. Banc of California’s dividend payout ratio is -9.37%.

Banc of California Company 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.