Banc of California Inc (BANC) : Patriot Financial Partners Gp Lp reduced its stake in Banc of California Inc by 8.06% during the most recent quarter end. The investment management company now holds a total of 2,850,564 shares of Banc of California Inc which is valued at $64,650,792 after selling 250,000 shares in Banc of California Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Banc of California Inc makes up approximately 15.78% of Patriot Financial Partners Gp Lp’s portfolio.
Other Hedge Funds, Including , Wcm Investment Managementca reduced its stake in BANC by selling 54,771 shares or 16.4% in the most recent quarter. The Hedge Fund company now holds 279,264 shares of BANC which is valued at $6,417,487. Banc of California Inc makes up approx 0.10% of Wcm Investment Managementca’s portfolio.Shell Asset Management Co reduced its stake in BANC by selling 8,066 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 141,485 shares of BANC which is valued at $3,157,945. Banc of California Inc makes up approx 0.07% of Shell Asset Management Co’s portfolio. Meeder Asset Management Inc added BANC to its portfolio by purchasing 821 company shares during the most recent quarter which is valued at $17,101.Nordea Investment Management Ab boosted its stake in BANC in the latest quarter, The investment management firm added 42,248 additional shares and now holds a total of 146,748 shares of Banc of California Inc which is valued at $2,914,415. Banc of California Inc makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.
Banc of California Inc closed down -1.01 points or -4.46% at $21.66 with 9,04,883 shares getting traded on Wednesday. Post opening the session at $22.42, the shares hit an intraday low of $21.65 and an intraday high of $22.565 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.
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.