Capstone Asset Management Co. lowered its stake in shares of Banc of California, Inc. (NYSE:BANC) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 17,250 shares of the bank’s stock after selling 330 shares during the period. Capstone Asset Management Co.’s holdings in Banc of California were worth $371,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of Banc of California by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,470 shares of the bank’s stock valued at $113,000 after buying an additional 110 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Banc of California by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the bank’s stock valued at $418,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Banc of California by 1.2% in the first quarter. Arizona State Retirement System now owns 25,800 shares of the bank’s stock valued at $534,000 after buying an additional 300 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Banc of California by 0.4% in the first quarter. Legal & General Group Plc now owns 82,701 shares of the bank’s stock valued at $1,712,000 after buying an additional 354 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake in shares of Banc of California by 7.1% in the first quarter. Mason Street Advisors LLC now owns 11,594 shares of the bank’s stock valued at $240,000 after buying an additional 771 shares during the last quarter.

Shares of Banc of California, Inc. (BANC) traded down 0.125% during mid-day trading on Wednesday, hitting $19.975. The stock had a trading volume of 149,840 shares. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 13.388 and a beta of 0.97. Banc of California, Inc. has a one year low of $10.93 and a one year high of $23.25. The firm has a 50 day moving average of $20.89 and a 200 day moving average of $20.19.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $81.21 million for the quarter, compared to analyst estimates of $97.94 million. Banc of California had a net margin of 17.12% and a return on equity of 14.44%. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, analysts forecast that Banc of California, Inc. will post $0.76 earnings per share for the current year.

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Several brokerages have issued reports on BANC. Zacks Investment Research upgraded Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 11th. BidaskClub upgraded Banc of California from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods set a $22.00 price target on Banc of California and gave the stock a “hold” rating in a research report on Thursday, July 6th. ValuEngine upgraded Banc of California from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, FBR & Co dropped their price target on Banc of California from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.50.

About Banc of California

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

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Institutional Ownership by Quarter for Banc of California (NYSE:BANC)

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