85,555 Shares in Banc of California, Inc. (NYSE:BANC) Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC purchased a new stake in Banc of California, Inc. (NYSE:BANC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 85,555 shares of the bank’s stock, valued at approximately $1,323,000. Oliver Luxxe Assets LLC owned approximately 0.05% of Banc of California at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BANC. GAMMA Investing LLC raised its holdings in Banc of California by 32.3% during the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock worth $44,000 after buying an additional 734 shares during the last quarter. Crescent Grove Advisors LLC increased its position in shares of Banc of California by 0.8% during the third quarter. Crescent Grove Advisors LLC now owns 98,420 shares of the bank’s stock worth $1,460,000 after acquiring an additional 772 shares in the last quarter. World Investment Advisors LLC raised its holdings in shares of Banc of California by 4.5% in the 3rd quarter. World Investment Advisors LLC now owns 18,082 shares of the bank’s stock worth $266,000 after acquiring an additional 779 shares during the last quarter. FMR LLC lifted its position in Banc of California by 5.8% in the 3rd quarter. FMR LLC now owns 20,659 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,126 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Banc of California by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 77,384 shares of the bank’s stock valued at $989,000 after purchasing an additional 1,939 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BANC. Raymond James increased their price objective on Banc of California from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stephens raised their price objective on Banc of California from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $20.00 in a research note on Monday, January 6th. Barclays raised their price target on shares of Banc of California from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Banc of California currently has a consensus rating of “Moderate Buy” and an average target price of $18.10.

Banc of California Stock Down 2.2 %

Shares of NYSE:BANC opened at $15.72 on Friday. The firm has a fifty day moving average of $16.17 and a 200 day moving average of $15.00. Banc of California, Inc. has a 52-week low of $11.88 and a 52-week high of $18.08. 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 (NYSE:BANC) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts forecast that Banc of California, Inc. will post 0.71 EPS for the current fiscal year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. Banc of California’s dividend payout ratio (DPR) is currently -9.37%.

About Banc of California

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.