61,448 Shares in Banc of California, Inc. $BANC Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Banc of California, Inc. (NYSE:BANC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 61,448 shares of the bank’s stock, valued at approximately $1,256,000.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Banc of California by 9.4% in the 1st quarter. Royal Bank of Canada now owns 74,043 shares of the bank’s stock worth $1,050,000 after buying an additional 6,364 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Banc of California by 209.4% during the first quarter. AQR Capital Management LLC now owns 103,044 shares of the bank’s stock valued at $1,462,000 after acquiring an additional 69,739 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Banc of California by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,689 shares of the bank’s stock valued at $1,173,000 after acquiring an additional 3,611 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Banc of California by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,796,996 shares of the bank’s stock worth $53,879,000 after acquiring an additional 297,680 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Banc of California by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 441,856 shares of the bank’s stock worth $6,270,000 after acquiring an additional 4,263 shares during the last quarter. 86.88% of the stock is owned by institutional investors and hedge funds.

Banc of California Stock Up 1.0%

Shares of NYSE:BANC opened at $18.95 on Friday. The company’s fifty day moving average is $19.79 and its two-hundred day moving average is $19.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.89. Banc of California, Inc. has a 1-year low of $15.33 and a 1-year high of $21.93. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -45.12 and a beta of 0.73.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Wednesday, July 29th. The bank reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.01). Banc of California had a negative net margin of 1.44% and a positive return on equity of 7.98%. The business had revenue of $16.41 million for the quarter, compared to the consensus estimate of $295.32 million. During the same period in the prior year, the company earned $0.31 EPS. Banc of California’s quarterly revenue was down 94.0% on a year-over-year basis. Equities analysts anticipate that Banc of California, Inc. will post 1.68 EPS for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.48 dividend on an annualized basis and a yield of 2.5%. Banc of California’s payout ratio is currently -114.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on BANC shares. Brean Capital downgraded Banc of California from a “buy” rating to a “neutral” rating in a report on Thursday, July 30th. Citigroup dropped their price objective on Banc of California from $23.50 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wells Fargo & Company initiated coverage on Banc of California in a research report on Monday, August 10th. They issued an “overweight” rating and a $23.00 target price on the stock. Wall Street Zen lowered shares of Banc of California from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Banc of California from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $22.62.

Insider Buying and Selling

In related news, insider Olivia Lindsay sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.50, for a total transaction of $117,000.00. Following the completion of the transaction, the insider directly owned 32,842 shares in the company, valued at $640,419. This represents a 15.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.78% of the stock is currently owned by insiders.

About Banc of California

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.