Shares of Banc of California, Inc. (NYSE:BANC – Get Rating) hit a new 52-week low on Friday . The stock traded as low as $16.58 and last traded at $16.59, with a volume of 427 shares. The stock had previously closed at $16.84.
Analyst Upgrades and Downgrades
Separately, Piper Sandler cut their price objective on shares of Banc of California to $22.00 in a report on Monday, July 4th.
Banc of California Price Performance
The company has a 50 day moving average of $17.44 and a 200-day moving average of $18.13. The stock has a market capitalization of $998.67 million, a P/E ratio of 10.46 and a beta of 1.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.83.
Banc of California Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 14th. Banc of California’s dividend payout ratio (DPR) is 14.91%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BANC. BNP Paribas Arbitrage SA grew its holdings in Banc of California by 3.4% during the fourth quarter. BNP Paribas Arbitrage SA now owns 50,784 shares of the bank’s stock worth $996,000 after acquiring an additional 1,687 shares during the period. Teacher Retirement System of Texas acquired a new position in Banc of California during the fourth quarter worth about $208,000. Qube Research & Technologies Ltd acquired a new position in Banc of California during the fourth quarter worth about $645,000. Rhumbline Advisers grew its holdings in Banc of California by 12.4% during the fourth quarter. Rhumbline Advisers now owns 157,368 shares of the bank’s stock worth $3,088,000 after acquiring an additional 17,365 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Banc of California by 96.2% during the fourth quarter. Renaissance Technologies LLC now owns 301,613 shares of the bank’s stock worth $5,918,000 after acquiring an additional 147,885 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.
Banc of California Company 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 offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.
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