KLP Kapitalforvaltning AS Makes New Investment in Banc of California, Inc. (NYSE:BANC)

KLP Kapitalforvaltning AS purchased a new position in shares of Banc of California, Inc. ( NYSE:BANC – Free Report ) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 30,023 shares of the bank’s stock, valued at approximately $467,000.

Several other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in Banc of California in the fourth quarter worth approximately $30,000. SBI Securities Co.



Ltd. acquired a new stake in Banc of California in the fourth quarter valued at approximately $36,000. Jones Financial Companies Lllp grew its position in Banc of California by 35.

1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,574 shares of the bank’s stock worth $55,000 after acquiring an additional 928 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Banc of California by 205.

8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock worth $68,000 after purchasing an additional 2,926 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Banc of California by 71.

0% during the 4th quarter. KBC Group NV now owns 7,286 shares of the bank’s stock valued at $113,000 after purchasing an additional 3,026 shares in the last quarter. 86.

88% of the stock is currently owned by institutional investors and hedge funds. Banc of California Trading Down 8.2 % Shares of Banc of California stock opened at $12.

99 on Friday. Banc of California, Inc. has a 1 year low of $11.

88 and a 1 year high of $18.08. The company’s fifty day simple moving average is $14.

91 and its 200-day simple moving average is $15.40. The company has a market cap of $2.

06 billion, a price-to-earnings ratio of 23.19 and a beta of 1.18.

The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.

31. Banc of California Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.

10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.

08%. The ex-dividend date of this dividend was Friday, March 14th. Banc of California’s dividend payout ratio (DPR) is presently 71.

43%. Analysts Set New Price Targets A number of equities research analysts recently issued reports on BANC shares. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $17.

00 to $20.00 in a report on Monday, January 6th. Raymond James upped their price target on Banc of California from $17.

00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. StockNews.

com raised Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Barclays decreased their target price on Banc of California from $20.00 to $19.

00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. assumed coverage on Banc of California in a report on Friday, February 7th.

They set a “neutral” rating and a $18.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company.

According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.18.

View Our Latest Research Report on BANC Banc of California Profile ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding BANC? Visit HoldingsChannel.

com to get the latest 13F filings and insider trades for Banc of California, Inc. ( NYSE:BANC – Free Report ). Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.

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