Banc of California, Inc. (NYSE:BANC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Banc of California, Inc. (NYSE:BANC) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.18.

Several equities analysts recently commented on BANC shares. StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Raymond James increased their price objective on Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Stephens decreased their price target on Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $20.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. assumed coverage on Banc of California in a research note on Friday, February 7th. They issued a “neutral” rating and a $18.00 target price on the stock.

Banc of California Stock Performance

Shares of BANC stock opened at $12.97 on Thursday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 23.15 and a beta of 1.18. The firm has a 50 day moving average of $15.49 and a 200-day moving average of $15.43. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. Banc of California has a 52 week low of $11.88 and a 52 week high of $18.08.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. On average, equities analysts forecast that Banc of California will post 1.31 earnings per share for the current year.

Banc of California Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, March 14th. Banc of California’s dividend payout ratio (DPR) is currently 71.43%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BANC. Crescent Grove Advisors LLC lifted its holdings in Banc of California by 0.8% in the third quarter. Crescent Grove Advisors LLC now owns 98,420 shares of the bank’s stock worth $1,460,000 after buying an additional 772 shares during the period. Hollencrest Capital Management raised its holdings in Banc of California by 4.6% in the third quarter. Hollencrest Capital Management now owns 112,780 shares of the bank’s stock worth $1,661,000 after purchasing an additional 4,938 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Banc of California by 81.4% during the third quarter. Wolverine Asset Management LLC now owns 51,084 shares of the bank’s stock valued at $752,000 after buying an additional 22,930 shares during the period. Cable Hill Partners LLC boosted its holdings in shares of Banc of California by 12.6% during the 3rd quarter. Cable Hill Partners LLC now owns 65,224 shares of the bank’s stock valued at $967,000 after buying an additional 7,308 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Banc of California by 36.8% in the 3rd quarter. Curi RMB Capital LLC now owns 300,000 shares of the bank’s stock worth $4,419,000 after buying an additional 80,707 shares during the period. 86.88% of the stock is currently owned by institutional investors.

Banc of California Company 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.