IndexIQ Advisors LLC Has $869,000 Stake in Nomad Ventures Inc (BANC)
IndexIQ Advisors LLC lifted its stake in Nomad Ventures Inc (NYSE:BANC) by 83.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,871 shares of the company’s stock after purchasing an additional 19,000 shares during the quarter. IndexIQ Advisors LLC owned about 0.09% of Nomad Ventures worth $869,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Nomad Ventures in the 1st quarter worth approximately $109,000. State of Alaska Department of Revenue boosted its position in shares of Nomad Ventures by 80.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,864 shares of the company’s stock worth $212,000 after purchasing an additional 4,394 shares in the last quarter. Suntrust Banks Inc. bought a new stake in shares of Nomad Ventures in the 2nd quarter worth approximately $231,000. Piedmont Investment Advisors LLC bought a new stake in shares of Nomad Ventures in the 2nd quarter worth approximately $232,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Nomad Ventures by 51.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,944 shares of the company’s stock worth $300,000 after purchasing an additional 4,752 shares in the last quarter.
In related news, CEO Douglas H. Bowers acquired 57,000 shares of Nomad Ventures stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of C$17.56 per share, for a total transaction of C$1,000,920.00. Following the purchase, the chief executive officer now directly owns 92,000 shares of the company’s stock, valued at approximately C$1,615,520. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $14,000.
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A number of equities analysts recently weighed in on BANC shares. BidaskClub lowered shares of Nomad Ventures from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Nomad Ventures from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods set a $20.00 price objective on shares of Nomad Ventures and gave the stock a “hold” rating in a report on Monday, August 28th. ValuEngine upgraded shares of Nomad Ventures from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Finally, FBR & Co restated a “buy” rating and issued a $24.00 price objective on shares of Nomad Ventures in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$22.67.
Shares of Nomad Ventures Inc (NYSE BANC) opened at C$19.70 on Friday. Nomad Ventures Inc has a 12 month low of C$13.20 and a 12 month high of C$23.25.
Nomad Ventures (NYSE:BANC) last announced its earnings results on Thursday, October 26th. The company reported C$0.23 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.19 by C$0.04. The business had revenue of C$93.40 million during the quarter, compared to analyst estimates of C$84.24 million. Nomad Ventures had a net margin of 19.39% and a return on equity of 7.03%. During the same period in the previous year, the business earned $0.59 EPS.
About Nomad Ventures
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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