Massey Quick Simon & CO. LLC Invests $179,000 in Banc of California, Inc. (BANC)

Massey Quick Simon & CO. LLC purchased a new stake in shares of Banc of California, Inc. (NYSE:BANC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,616 shares of the bank’s stock, valued at approximately $179,000.

Several other institutional investors also recently bought and sold shares of BANC. Teachers Advisors LLC lifted its stake in shares of Banc of California by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 82,924 shares of the bank’s stock valued at $1,717,000 after purchasing an additional 2,679 shares during the last quarter. Legal & General Group Plc raised its position in shares of Banc of California by 0.4% during the first quarter. Legal & General Group Plc now owns 82,701 shares of the bank’s stock valued at $1,712,000 after buying an additional 354 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Banc of California by 3.0% during the first quarter. Geode Capital Management LLC now owns 370,968 shares of the bank’s stock valued at $7,679,000 after buying an additional 10,900 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Banc of California by 9.4% during the first quarter. New York State Teachers Retirement System now owns 30,150 shares of the bank’s stock valued at $624,000 after buying an additional 2,600 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Banc of California by 48,720.8% during the first quarter. BlackRock Inc. now owns 6,494,627 shares of the bank’s stock valued at $134,438,000 after buying an additional 6,481,324 shares during the last quarter.

Shares of Banc of California, Inc. (NYSE BANC) traded up $0.25 during midday trading on Wednesday, reaching $20.05. 365,400 shares of the company traded hands, compared to its average volume of 1,117,417. Banc of California, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $23.25. The firm has a market capitalization of $1,000.00, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.82 and a beta of 0.95. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.91 and a quick ratio of 0.91.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Banc of California had a net margin of 15.48% and a return on equity of 11.78%. The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $84.24 million. During the same period in the prior year, the business posted $0.59 earnings per share. equities research analysts anticipate that Banc of California, Inc. will post 0.88 earnings per share for the current fiscal year.

In other Banc of California news, CEO Douglas H. Bowers acquired 57,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average cost of $17.56 per share, for a total transaction of $1,000,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 92,000 shares of the company’s stock, valued at approximately $1,615,520. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 30,000 shares of company stock worth $14,000 over the last 90 days. 16.89% of the stock is currently owned by company insiders.

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BANC has been the topic of several research analyst reports. FBR & Co reissued a “buy” rating and set a $24.00 price target on shares of Banc of California in a research note on Thursday, October 26th. BidaskClub cut shares of Banc of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. ValuEngine raised shares of Banc of California from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Keefe, Bruyette & Woods set a $20.00 price target on shares of Banc of California and gave the company a “hold” rating in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.67.

Banc of California Company Profile

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

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Institutional Ownership by Quarter for Banc of California (NYSE:BANC)

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