Tectonic Advisors LLC Acquires 7,722 Shares of Banc of California, Inc. (NYSE:BANC)

Tectonic Advisors LLC boosted its position in Banc of California, Inc. (NYSE:BANC) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 128,296 shares of the bank’s stock after acquiring an additional 7,722 shares during the period. Tectonic Advisors LLC’s holdings in Banc of California were worth $1,983,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BANC. Future Financial Wealth Managment LLC bought a new stake in Banc of California during the 3rd quarter valued at about $29,000. GAMMA Investing LLC grew its stake in shares of Banc of California by 32.3% in the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock worth $44,000 after acquiring an additional 734 shares during the period. KBC Group NV grew its position in Banc of California by 71.0% during the fourth quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after buying an additional 3,026 shares during the period. Paloma Partners Management Co bought a new stake in Banc of California during the third quarter valued at approximately $158,000. Finally, Marshall Wace LLP bought a new stake in Banc of California during the second quarter valued at approximately $166,000. Institutional investors own 86.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BANC. Stephens lowered their price target on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. StockNews.com raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company raised shares of Banc of California from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $20.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Raymond James boosted their price objective on shares of Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Banc of California presently has an average rating of “Moderate Buy” and an average target price of $18.20.

Banc of California Stock Up 2.4 %

NYSE:BANC opened at $16.13 on Wednesday. The firm has a market cap of $2.56 billion, a PE ratio of 28.81 and a beta of 1.14. The company has a 50-day moving average of $16.08 and a 200 day moving average of $15.15. Banc of California, Inc. has a 1-year low of $11.88 and a 1-year high of $18.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. As a group, research analysts anticipate that Banc of California, Inc. will post 1.35 EPS for the current fiscal year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.48%. Banc of California’s dividend payout ratio (DPR) is presently 71.43%.

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.