Horizon Investment Services Lowers stake in Banc of California Inc (BANC)

Banc of California Inc (BANC) : Horizon Investment Services reduced its stake in Banc of California Inc by 8.82% during the most recent quarter end. The investment management company now holds a total of 250,832 shares of Banc of California Inc which is valued at $5,688,870 after selling 24,251 shares in Banc of California Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Banc of California Inc makes up approximately 2.73% of Horizon Investment Services’s portfolio.

Other Hedge Funds, Including , D. E. Shaw boosted its stake in BANC in the latest quarter, The investment management firm added 43,474 additional shares and now holds a total of 175,083 shares of Banc of California Inc which is valued at $3,970,882. Banc of California Inc makes up approx 0.01% of D. E. Shaw’s portfolio.Engineers Gate Manager Lp boosted its stake in BANC in the latest quarter, The investment management firm added 38,870 additional shares and now holds a total of 60,999 shares of Banc of California Inc which is valued at $1,383,457. Banc of California Inc makes up approx 0.09% of Engineers Gate Manager Lp’s portfolio.Teacher Retirement System Of Texas boosted its stake in BANC in the latest quarter, The investment management firm added 1,908 additional shares and now holds a total of 5,864 shares of Banc of California Inc which is valued at $135,576.Oppenheimer Co Inc boosted its stake in BANC in the latest quarter, The investment management firm added 127,575 additional shares and now holds a total of 168,675 shares of Banc of California Inc which is valued at $3,825,549. Banc of California Inc makes up approx 0.11% of Oppenheimer Co Inc’s portfolio. Alphamark Advisors added BANC to its portfolio by purchasing 44,856 company shares during the most recent quarter which is valued at $1,030,791. Banc of California Inc makes up approx 0.60% of Alphamark Advisors’s portfolio.

Banc of California Inc closed down -0.07 points or -0.31% at $22.25 with 2,33,592 shares getting traded on Thursday. Post opening the session at $22.2, the shares hit an intraday low of $21.94 and an intraday high of $22.43 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Banc of California Inc reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.40.Analysts expectations of $ 131.84.During the same quarter in the previous year, the company posted $0.32 EPS.

Investors should note that on Aug 16, 2016, Banc of California Inc announced a cash dividend of $0.1200. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Banc of California Inc. Banc of California Inc was Downgraded by FIG Partners to ” Underperform” on Aug 17, 2016. FBR Capital Initiated Banc of California Inc on Jul 1, 2016 to “Mkt Perform”, Price Target of the shares are set at $20.

Banc of California Inc. is a financial holding company. The Company is the parent of Banc of California National Association (the Bank) The Palisades Group LLC (The Palisades Group) and PTB Property Holdings LLC (PTB). The Company engages in activities permissible for bank holding companies and in other activities that are financial in nature or incidental or complementary to activities that are financial in nature primarily securities insurance and merchant banking activities. The Bank offers a variety of financial services to meet the banking and financial needs of the communities it serves with operations conducted through 37 banking offices serving San Diego Los Angeles and Orange counties California and 67 loan production offices in California Arizona Oregon Virginia Indiana Maryland Colorado Idaho and Nevada.

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