Banc of California, Inc. $BANC Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC lifted its stake in Banc of California, Inc. (NYSE:BANC) by 338.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,298 shares of the bank’s stock after purchasing an additional 128,387 shares during the period. Voya Investment Management LLC’s holdings in Banc of California were worth $2,752,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BANC. GAMMA Investing LLC raised its position in Banc of California by 22.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,201 shares of the bank’s stock valued at $59,000 after purchasing an additional 762 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Banc of California by 210.8% in the second quarter. Osaic Holdings Inc. now owns 5,809 shares of the bank’s stock valued at $82,000 after acquiring an additional 3,940 shares in the last quarter. CWM LLC raised its holdings in Banc of California by 9.1% in the second quarter. CWM LLC now owns 8,783 shares of the bank’s stock valued at $123,000 after acquiring an additional 734 shares in the last quarter. Walleye Capital LLC purchased a new position in Banc of California in the second quarter worth approximately $179,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Banc of California by 16.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,393 shares of the bank’s stock worth $198,000 after acquiring an additional 1,898 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Banc of California Price Performance

Shares of BANC opened at $19.71 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. Banc of California, Inc. has a 1-year low of $11.52 and a 1-year high of $20.17. The stock has a market cap of $2.98 billion, a PE ratio of 18.95 and a beta of 0.72. The firm has a fifty day moving average price of $18.12 and a 200 day moving average price of $16.46.

Banc of California (NYSE:BANC) last posted its earnings results on Monday, May 13th. The bank reported $1.03 EPS for the quarter. Banc of California had a return on equity of 8.00% and a net margin of 11.49%.The business had revenue of $315.66 million for the quarter. As a group, sell-side analysts anticipate that Banc of California, Inc. will post 1.31 EPS for the current year.

Banc of California Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 2.0%. Banc of California’s payout ratio is 38.46%.

Analyst Ratings Changes

BANC has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Banc of California from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings restated a “hold (c)” rating on shares of Banc of California in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Banc of California from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Wells Fargo & Company upped their price objective on Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, Citigroup raised Banc of California from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $21.50 in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Banc of California presently has an average rating of “Moderate Buy” and a consensus price target of $19.95.

Banc of California Company Profile

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.