Banc of California Inc (NYSE:BANC) Shares Acquired by Salzhauer Michael
Salzhauer Michael increased its stake in Banc of California Inc (NYSE:BANC) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,576 shares of the bank’s stock after acquiring an additional 6,400 shares during the period. Banc of California makes up 0.8% of Salzhauer Michael’s investment portfolio, making the stock its 28th largest position. Salzhauer Michael owned about 0.24% of Banc of California worth $1,726,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BANC. Investment Counselors of Maryland LLC increased its holdings in Banc of California by 6.8% in the second quarter. Investment Counselors of Maryland LLC now owns 1,460,567 shares of the bank’s stock worth $20,404,000 after buying an additional 93,388 shares during the last quarter. Swiss National Bank boosted its position in Banc of California by 14.9% during the second quarter. Swiss National Bank now owns 84,000 shares of the bank’s stock worth $1,173,000 after purchasing an additional 10,900 shares during the period. Aperio Group LLC bought a new stake in Banc of California during the second quarter worth approximately $261,000. Foundry Partners LLC boosted its position in Banc of California by 726.1% during the second quarter. Foundry Partners LLC now owns 171,995 shares of the bank’s stock worth $2,403,000 after purchasing an additional 151,175 shares during the period. Finally, Sippican Capital Advisors boosted its position in Banc of California by 92.7% during the second quarter. Sippican Capital Advisors now owns 33,750 shares of the bank’s stock worth $471,000 after purchasing an additional 16,235 shares during the period. 98.98% of the stock is currently owned by institutional investors and hedge funds.
Banc of California stock traded down $0.11 during trading hours on Thursday, reaching $14.88. 2,823 shares of the company were exchanged, compared to its average volume of 413,608. The firm has a market cap of $764.47 million, a price-to-earnings ratio of 30.39, a PEG ratio of 1.45 and a beta of 1.31. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 2.76. The stock has a 50-day moving average of $14.43 and a 200 day moving average of $14.49. Banc of California Inc has a 12 month low of $12.22 and a 12 month high of $20.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a $0.06 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.61%. Banc of California’s dividend payout ratio is 48.98%.
Separately, Zacks Investment Research raised Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.75.
About Banc of California
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 offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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