Endeavour Capital Advisors Inc. Sells 69,138 Shares of Banc of California, Inc. (NYSE:BANC)

Endeavour Capital Advisors Inc. cut its holdings in shares of Banc of California, Inc. (NYSE:BANC) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 829,893 shares of the bank’s stock after selling 69,138 shares during the quarter. Banc of California comprises 4.1% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 7th biggest position. Endeavour Capital Advisors Inc. owned about 0.52% of Banc of California worth $12,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BANC. Picton Mahoney Asset Management acquired a new position in shares of Banc of California during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Banc of California in the fourth quarter valued at approximately $36,000. Jones Financial Companies Lllp increased its stake 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 valued at $55,000 after purchasing an additional 928 shares during the period. Smartleaf Asset Management LLC raised its stake in Banc of California by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,348 shares of the bank’s stock valued at $68,000 after acquiring an additional 2,926 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Banc of California in the 4th quarter valued at $97,000. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Banc of California Price Performance

BANC stock opened at $14.11 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $15.01 and its two-hundred day moving average is $15.43. The company has a market capitalization of $2.24 billion, a PE ratio of 25.20 and a beta of 1.18. Banc of California, Inc. has a 52-week low of $11.88 and a 52-week high of $18.08.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. Analysts predict that Banc of California, Inc. will post 1.31 earnings per share for the current fiscal year.

Banc of California Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, March 14th. Banc of California’s dividend payout ratio (DPR) is 71.43%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BANC. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $20.00 in a research note on Monday, January 6th. StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on Banc of California from $17.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Barclays cut their price objective on shares of Banc of California from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. started coverage on Banc of California in a report on Friday, February 7th. They issued a “neutral” rating and a $18.00 target price 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 company has an average rating of “Moderate Buy” and a consensus target price of $18.18.

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.