Curi RMB Capital LLC Has $4.42 Million Stock Position in Banc of California, Inc. (NYSE:BANC)

Curi RMB Capital LLC increased its stake in shares of Banc of California, Inc. (NYSE:BANC) by 36.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the bank’s stock after acquiring an additional 80,707 shares during the quarter. Curi RMB Capital LLC’s holdings in Banc of California were worth $4,419,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Banc of California by 32.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock worth $44,000 after purchasing an additional 734 shares during the period. Crescent Grove Advisors LLC increased its stake in Banc of California by 0.8% during the third quarter. Crescent Grove Advisors LLC now owns 98,420 shares of the bank’s stock valued at $1,460,000 after acquiring an additional 772 shares during the period. Louisiana State Employees Retirement System raised its holdings in Banc of California by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 69,800 shares of the bank’s stock valued at $892,000 after acquiring an additional 1,200 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Banc of California by 146.3% in the 2nd quarter. Fifth Third Bancorp now owns 2,143 shares of the bank’s stock worth $27,000 after acquiring an additional 1,273 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of 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 worth $989,000 after purchasing an additional 1,939 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Richard J. Lashley sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.00, for a total transaction of $1,050,000.00. Following the transaction, the director now owns 719,826 shares in the company, valued at $10,077,564. This represents a 9.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. DA Davidson upped their target price on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Truist Financial lifted their target price on shares of Banc of California from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Wedbush upped their target price on shares of Banc of California from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Stephens raised their price target on shares of Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.30.

Banc of California Stock Down 0.6 %

NYSE:BANC opened at $16.30 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California, Inc. has a 12 month low of $11.36 and a 12 month high of $16.92. The company’s 50-day moving average price is $14.95 and its two-hundred day moving average price is $14.09.

Banc of California (NYSE:BANC) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The company had revenue of $431.44 million during the quarter, compared to analysts’ expectations of $229.46 million. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. During the same quarter in the previous year, the company posted $0.30 earnings per share. Equities analysts predict that Banc of California, Inc. will post 0.71 EPS for the current year.

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Monday, December 16th. Banc of California’s dividend payout ratio is currently -9.37%.

Banc of California 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.