Mutual of America Capital Management LLC Purchases Shares of 22,892 Banc of California, Inc. (NYSE:BANC)

Mutual of America Capital Management LLC purchased a new stake in Banc of California, Inc. (NYSE:BANC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,892 shares of the bank’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Banc of California by 2,466.2% during the 4th quarter. Versant Capital Management Inc now owns 1,899 shares of the bank’s stock worth $26,000 after purchasing an additional 1,825 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Banc of California during the 4th quarter worth approximately $44,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Banc of California during the 3rd quarter worth approximately $145,000. Commonwealth Equity Services LLC acquired a new position in shares of Banc of California during the 3rd quarter worth approximately $178,000. Finally, Highland Financial Advisors LLC acquired a new position in shares of Banc of California during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

Analyst Upgrades and Downgrades

BANC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of Banc of California from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $16.00 to $18.00 in a research report on Friday, March 22nd. Wedbush increased their price target on shares of Banc of California from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Barclays started coverage on shares of Banc of California in a research report on Friday, March 8th. They set an “equal weight” rating and a $16.00 price target on the stock. StockNews.com started coverage on shares of Banc of California in a research report on Monday, January 29th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company increased their price target on shares of Banc of California from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.07.

Insider Activity

In other Banc of California news, Director Richard J. Lashley purchased 10,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $21.40 per share, with a total value of $214,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $214,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Banc of California Stock Performance

Shares of Banc of California stock opened at $13.94 on Wednesday. Banc of California, Inc. has a fifty-two week low of $9.72 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.41 and a beta of 1.15. The company’s 50 day moving average price is $14.49 and its two-hundred day moving average price is $13.32.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 25th. The bank reported ($4.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($4.27). Banc of California had a negative net margin of 44.04% and a positive return on equity of 1.14%. The company had revenue of $193.06 million during the quarter, compared to analyst estimates of $163.11 million. During the same quarter in the prior year, the business earned $0.45 EPS. On average, equities analysts forecast that Banc of California, Inc. will post 1.5 earnings per share for the current fiscal year.

Banc of California Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.87%. Banc of California’s dividend payout ratio is currently -12.66%.

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.