Analysts Set Banc of California, Inc. (NYSE:BANC) Price Target at $18.18

Banc of California, Inc. (NYSE:BANC) has received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.18.

A number of research firms have recently issued reports on BANC. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $20.00 in a research report on Monday, January 6th. StockNews.com raised shares of Banc of California from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Raymond James increased their price objective on shares of Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Stephens decreased their target price on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Barclays dropped their price target on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, January 24th.

Banc of California Price Performance

Shares of Banc of California stock opened at $12.32 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $1.96 billion, a PE ratio of 21.99 and a beta of 1.18. The firm has a fifty day moving average price of $14.84 and a two-hundred day moving average price of $15.39. Banc of California has a fifty-two week low of $11.88 and a fifty-two week high of $18.08.

Banc of California (NYSE:BANC) last released its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. Analysts expect that Banc of California will post 1.31 EPS for the current year.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 3.25%. Banc of California’s dividend payout ratio is 71.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Banc of California by 274.6% during the 4th quarter. Wellington Management Group LLP now owns 5,393,076 shares of the bank’s stock valued at $83,377,000 after purchasing an additional 3,953,380 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Banc of California during the fourth quarter worth $210,000. Tiptree Advisors LLC acquired a new stake in shares of Banc of California in the fourth quarter valued at $3,664,000. Mackenzie Financial Corp bought a new position in shares of Banc of California in the fourth quarter valued at about $455,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Banc of California in the fourth quarter valued at about $1,066,000. Institutional investors own 86.88% of the company’s stock.

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.