Oregon Public Employees Retirement Fund bought a new stake in Banc of California Inc (NYSE:BANC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,219 shares of the bank’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Banc of California by 3.9% in the 3rd quarter. BlackRock Inc. now owns 6,237,726 shares of the bank’s stock valued at $117,893,000 after buying an additional 233,796 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Banc of California by 14.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,794,691 shares of the bank’s stock valued at $52,819,000 after buying an additional 348,814 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Banc of California by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,563,819 shares of the bank’s stock valued at $48,456,000 after buying an additional 24,499 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Banc of California by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 2,563,819 shares of the bank’s stock valued at $48,456,000 after buying an additional 24,499 shares in the last quarter. Finally, EJF Capital LLC grew its stake in shares of Banc of California by 6.6% in the 3rd quarter. EJF Capital LLC now owns 1,047,039 shares of the bank’s stock valued at $19,789,000 after buying an additional 64,527 shares in the last quarter.

BANC has been the subject of several recent research reports. B. Riley lowered their price target on Banc of California from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, December 18th. DA Davidson cut Banc of California from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Wednesday, March 6th. ValuEngine cut Banc of California from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, Zacks Investment Research cut Banc of California from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.00.

Shares of Banc of California stock opened at $14.43 on Friday. The company has a market cap of $741.62 million, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.19 and a beta of 1.28. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.01 and a quick ratio of 1.01. Banc of California Inc has a 12-month low of $12.22 and a 12-month high of $20.45.

Banc of California (NYSE:BANC) last announced its earnings results on Thursday, January 24th. The bank reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.18). The company had revenue of $73.50 million for the quarter, compared to the consensus estimate of $76.00 million. Banc of California had a return on equity of 6.62% and a net margin of 10.18%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. As a group, equities analysts predict that Banc of California Inc will post 1.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 3.60%. Banc of California’s payout ratio is currently 106.12%.

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Banc of California Profile

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration (SBA) guaranteed business loans, construction and renovation loans, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.

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

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