Coldstream Capital Management Inc. Purchases 67,257 Shares of Banc of California, Inc. $BANC

Coldstream Capital Management Inc. lifted its stake in shares of Banc of California, Inc. (NYSE:BANC) by 3,896.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,983 shares of the bank’s stock after purchasing an additional 67,257 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Banc of California were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Banc of California by 22.2% in the second quarter. GAMMA Investing LLC now owns 4,201 shares of the bank’s stock worth $59,000 after acquiring an additional 762 shares in the last quarter. CWM LLC boosted its position in Banc of California by 41.7% during the 1st quarter. CWM LLC now owns 8,049 shares of the bank’s stock valued at $114,000 after buying an additional 2,367 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Banc of California during the first quarter valued at about $123,000. Cetera Investment Advisers grew its stake in shares of Banc of California by 11.1% in the first quarter. Cetera Investment Advisers now owns 12,802 shares of the bank’s stock worth $182,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Banc of California by 16.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,393 shares of the bank’s stock worth $198,000 after buying an additional 1,898 shares during the last quarter. 86.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Banc of California

In other news, insider Hamid Hussain sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $16.59, for a total value of $331,800.00. Following the transaction, the insider owned 66,444 shares of the company’s stock, valued at approximately $1,102,305.96. The trade was a 23.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BANC has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Banc of California from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banc of California in a report on Wednesday, October 8th. Barclays boosted their price objective on shares of Banc of California from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. DA Davidson upped their price objective on Banc of California from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company boosted their price target on Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.25.

Banc of California Trading Up 4.4%

Shares of BANC stock opened at $18.60 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 17.88 and a beta of 0.75. Banc of California, Inc. has a 1 year low of $11.52 and a 1 year high of $18.71. The firm has a fifty day moving average price of $16.97 and a 200-day moving average price of $15.62.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Monday, May 13th. The bank reported $1.03 EPS for the quarter. The firm had revenue of $315.66 million for the quarter. Banc of California had a net margin of 11.49% and a return on equity of 8.00%. As a group, equities analysts predict that Banc of California, Inc. will post 1.31 earnings per share for the current year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, December 15th. Banc of California’s dividend payout ratio is presently 38.46%.

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.