25,476 Shares in Banc of California, Inc. (NYSE:BANC) Acquired by Jump Financial LLC

Jump Financial LLC bought a new stake in shares of Banc of California, Inc. (NYSE:BANC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,476 shares of the bank’s stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BANC. Victory Capital Management Inc. raised its position in Banc of California by 69.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,876,594 shares of the bank’s stock valued at $23,232,000 after purchasing an additional 770,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Banc of California by 144.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,071,139 shares of the bank’s stock valued at $14,385,000 after acquiring an additional 633,132 shares during the period. Brandywine Global Investment Management LLC increased its holdings in shares of Banc of California by 290.3% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 727,452 shares of the bank’s stock valued at $9,006,000 after acquiring an additional 541,052 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Banc of California in the 3rd quarter valued at $6,366,000. Finally, One Fin Capital Management LP purchased a new position in shares of Banc of California in the 3rd quarter valued at $5,132,000. 86.88% of the stock is owned by institutional investors.

Banc of California Trading Down 0.4 %

Shares of Banc of California stock opened at $13.72 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average of $14.38 and a 200 day moving average of $13.69. Banc of California, Inc. has a fifty-two week low of $9.96 and a fifty-two week high of $16.08. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.12 and a beta of 1.17.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.07). The company had revenue of $522.57 million during the quarter, compared to analyst estimates of $296.02 million. Banc of California had a negative net margin of 29.10% and a positive return on equity of 2.25%. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, research analysts predict that Banc of California, Inc. will post 1.14 earnings per share for the current year.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, June 14th. Banc of California’s payout ratio is currently -12.01%.

Insider Activity

In other Banc of California news, CEO Jared M. Wolff purchased 7,130 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $13.98 per share, for a total transaction of $99,677.40. Following the completion of the purchase, the chief executive officer now directly owns 268,695 shares in the company, valued at $3,756,356.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jared M. Wolff acquired 7,130 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $13.98 per share, with a total value of $99,677.40. Following the completion of the acquisition, the chief executive officer now owns 268,695 shares in the company, valued at approximately $3,756,356.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Lashley acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $21.40 per share, for a total transaction of $214,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $214,000. The disclosure for this purchase can be found here. Insiders own 7.37% of the company’s stock.

Analyst Upgrades and Downgrades

BANC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded Banc of California from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $16.00 to $18.00 in a research note on Friday, March 22nd. Wedbush dropped their target price on Banc of California from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Stephens dropped their target price on Banc of California from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 14th. Barclays dropped their target price on Banc of California from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded Banc of California to a “sell” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.31.

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.