Voya Investment Management LLC Has $639,000 Stake in Banc of California, Inc. (NYSE:BANC)

Voya Investment Management LLC lowered its holdings in shares of Banc of California, Inc. (NYSE:BANC) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,303 shares of the bank’s stock after selling 3,172 shares during the period. Voya Investment Management LLC’s holdings in Banc of California were worth $639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Penn Capital Management Company LLC bought a new stake in shares of Banc of California in the 4th quarter valued at approximately $9,326,000. T. Rowe Price Investment Management Inc. boosted its stake in Banc of California by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,913,012 shares of the bank’s stock valued at $168,716,000 after buying an additional 644,330 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Banc of California in the fourth quarter valued at $470,000. Hsbc Holdings PLC raised its stake in Banc of California by 160.6% during the fourth quarter. Hsbc Holdings PLC now owns 83,890 shares of the bank’s stock worth $1,303,000 after acquiring an additional 51,699 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Banc of California by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 41,879 shares of the bank’s stock valued at $647,000 after acquiring an additional 16,700 shares during the period. Institutional investors own 86.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director James Andrew Barker acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the completion of the acquisition, the director now owns 169,680 shares in the company, valued at $2,232,988.80. This represents a 6.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.69% of the company’s stock.

Banc of California Stock Up 1.9 %

Shares of Banc of California stock opened at $13.91 on Friday. The business has a fifty day simple moving average of $13.49 and a 200 day simple moving average of $15.11. The stock has a market cap of $2.21 billion, a PE ratio of 24.83 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. Banc of California, Inc. has a 12 month low of $11.52 and a 12 month high of $18.08.

Banc of California (NYSE:BANC) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $266.01 million during the quarter, compared to analyst estimates of $272.36 million. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. Research analysts predict that Banc of California, Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BANC. Robert W. Baird dropped their target price on shares of Banc of California from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Barclays dropped their price objective on shares of Banc of California from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Banc of California in a report on Monday, April 28th. Raymond James raised their price target on Banc of California from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company reduced their price objective on Banc of California from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

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.