Gator Capital Management LLC grew its holdings in Banc of California Inc (NYSE:BANC) by 113.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,816 shares of the bank’s stock after buying an additional 15,325 shares during the period. Gator Capital Management LLC owned 0.06% of Banc of California worth $545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tyers Asset Management LLC lifted its holdings in Banc of California by 64.9% during the 2nd quarter. Tyers Asset Management LLC now owns 7,600 shares of the bank’s stock worth $149,000 after purchasing an additional 2,992 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Banc of California during the 2nd quarter worth approximately $194,000. Xact Kapitalforvaltning AB acquired a new stake in Banc of California during the 1st quarter worth approximately $210,000. Sei Investments Co. lifted its holdings in Banc of California by 157.9% during the 2nd quarter. Sei Investments Co. now owns 11,669 shares of the bank’s stock worth $228,000 after purchasing an additional 7,145 shares during the last quarter. Finally, Sawtooth Solutions LLC acquired a new stake in Banc of California during the 3rd quarter worth approximately $241,000.
In related news, Director W Kirk Wycoff sold 225,300 shares of Banc of California stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $19.99, for a total transaction of $4,503,747.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $94,912.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 640,656 shares of company stock valued at $12,808,384. 18.08% of the stock is currently owned by insiders.
NYSE:BANC opened at $16.36 on Monday. The company has a market cap of $828.77 million, a P/E ratio of 19.95, a PEG ratio of 2.00 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.53. Banc of California Inc has a 1-year low of $14.11 and a 1-year high of $23.40.
BANC has been the subject of several research reports. ValuEngine raised Banc of California from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, October 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Banc of California has an average rating of “Hold” and a consensus price target of $20.75.
Banc of California 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's deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration (SBA) guaranteed business loans, construction and renovation loans, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.
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