13GD Report: Pl Capital Advisors Just Disclosed New Banc Of California, Inc Position

13GD Report: Pl Capital Advisors Just Disclosed New Banc Of California, Inc Position

The New Pl Capital Advisors Holding in Banc Of California, Inc

Pl Capital Advisors filed with the SEC SC 13D/A form for Banc Of California, Inc. The form can be accessed here: 000089706916001113. As reported in Pl Capital Advisors’s form, the filler as of late owns 6.7% or 3,306,719 shares of the Finance–company.

Banc Of California, Inc stake is a new one for the for this institutional investor and it was filed because of activity on November 14, 2016. We feel this shows Pl Capital Advisors’s positive view for the stock. For a institutional investor managing $222.10 million in assets and having 0+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Reasons Why Pl Capital Advisors Bought – Banc Of California, Inc Stock

Purpose of Transaction


This is the Reporting Person’s first amendment to the Initial Schedule 13D.

In the aggregate, the Reporting Persons hold 6.7% of the Banc of California’s Common Stock, based upon the Company’s outstanding shares as of July 28, 2016. The Reporting Persons acquired the Common Stock because they believed the Common Stock was undervalued at the time of purchase.

Over the past 28 months the Reporting Persons have communicated with the Company to express various concerns and questions about the Company’s corporate governance, capital management, transparency and executive compensation plans. It is the Reporting Persons intent to engage in a dialogue, and work cooperatively wherever possible, with the management and board of the Company to address these concerns and questions. If needed, the Reporting Persons will assert one or more of the stockholder rights afforded shareholders by the governing documents of the Banc of Califormia.

Richard Lashley, a principal of the PL Capital Group, sent a letter dated November 14, 2016 to Mr. Steven Sugarman, Chairman, President & CEO of the Company. A copy of the letter is attached as

Exhibit 99.3

to this amended Schedule 13D.

Richard Lashley, a principal of the PL Capital Group, sent a letter dated October 21, 2016 to Mr. Steven Sugarman, Chairman, President & CEO of the Company. A copy of the letter is attached as

Exhibit 99.2

to the Initial Schedule 13D.

Richard Lashley, a principal of the PL Capital Group, sent a letter dated October 17, 2016 to Mr. Steven Sugarman, Chairman, President & CEO of the Company. A copy of the letter is attached as

Exhibit 99.3

to the Initial Schedule 13D.

Unless otherwise noted in this amended Schedule 13D, no Reporting Person has any plans or proposals, which relate to, or would result in, any of the matters referred to in paragraphs (b) through (j), inclusive of Item (4) of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their positions and formulate plans or proposals with respect thereto. The Reporting Persons may make further purchases of shares of Common Stock, although they have no present intention of increasing their aggregate holdings above 9.999% of the Company’s outstanding Common Stock. The Reporting Persons may dispose of any or all the shares of Common Stock which they hold.

CUSIP No. 05990K106

Page 7 of 9 Pages




Banc Of California, Inc Institutional Sentiment

Latest Security and Exchange filings show 122 investors own Banc Of California, Inc. The institutional ownership in Q3 2015 is high, at 70.10% of the outstanding shares. This is increased by 9182292 the total institutional shares. 34684364 were the shares owned by these institutional investors. In total 23 funds opened new Banc Of California, Inc stakes, 51 increased stakes. There were 17 that closed positions and 33 reduced them.

4 managers had the stock in their top Ten. Notable investors are: Pl Capital Advisors Llc, Patriot Financial Partners Gp Lp, Forest Hill Capital Llc, Endicott Management Co..

Pl Capital Advisors Llc is an institutional investor bullish on Banc Of California, Inc, owning 2216919 shares as of Q3 2015 for 9.91% of its portfolio. Pinnacle Holdings Llc owns 167962 shares or less than 0.01% of its portfolio. X1 Ancora Advisors Llc have 0.04% of their stock portfolio for 22500 shares. Further, Argent Capital Management Llc reported stake worth 0.18% of its US stock portfolio. The NY Alpine Woods Capital Investors Llc owns 23895 shares. Banc Of California, Inc is 0.02% of the manager’s US portfolio.

Business Profile

Banc of California, Inc. provides banking services to California’s diverse businesses, entrepreneurs and homeowners. The Bank was formed through the merger of four of Southern California’s community banking franchises. The Bank offers a range of financial services to meet the banking and financial needs of the communities it serves, with operations conducted through over 100 banking offices across California and across the West. The Bank’s deposit product and service offerings include checking, savings, money market, certificates of deposit, retirement accounts, as well as online, telephone and mobile banking, automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, Automated Clearing House (ACH) origination, wire transfer, direct deposit and safe deposit boxes.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Pl Capital Advisors website.

Insitutional Activity: The institutional sentiment decreased to 1.57 in 2016 Q2. Its down 0.41, from 1.98 in 2016Q1. The ratio dropped, as 21 funds sold all Banc of California Inc shares owned while 48 reduced positions. 42 funds bought stakes while 66 increased positions. They now own 43.11 million shares or 13.44% more from 38.00 million shares in 2016Q1.

Landscape Capital Ltd Limited Liability Company last reported 0.04% of its portfolio in the stock. Highbridge Cap Mngmt Limited Liability Company has invested 0.01% of its portfolio in Banc of California Inc (NYSE:BANC). Strs Ohio, a Ohio-based fund reported 44,500 shares. Wells Fargo Mn holds 133,118 shares or 0% of its portfolio. Jpmorgan Chase & holds 0.01% of its portfolio in Banc of California Inc (NYSE:BANC) for 1.19M shares. Ancora Advsr Ltd Limited Liability Company holds 0.05% of its portfolio in Banc of California Inc (NYSE:BANC) for 25,000 shares. State Of Tennessee Treasury Department holds 39,086 shares or 0% of its portfolio. Guggenheim Capital Lc holds 0% or 13,005 shares in its portfolio. Banc Funds Co Limited Liability Co holds 123,204 shares or 0.13% of its portfolio. Moreover, Hbk Ltd Partnership has 0.01% invested in Banc of California Inc (NYSE:BANC) for 51,500 shares. Shell Asset Mngmt, a Netherlands-based fund reported 141,485 shares. Schwab Charles Investment has invested 0% of its portfolio in Banc of California Inc (NYSE:BANC). Pinnacle Ltd Liability Corp reported 171,360 shares or 0% of all its holdings. Teacher Retirement Sys Of Texas, a Texas-based fund reported 5,864 shares. Clark Capital Mgmt Group Incorporated accumulated 0.1% or 81,553 shares.

Insider Transactions: Since June 17, 2016, the stock had 1 insider buy, and 2 selling transactions for $1.85 million net activity. Another trade for 59,225 shares valued at $1.15M was made by Seabold Jeffrey T on Friday, June 17. On Tuesday, August 16 Sugarman Steven bought $7,420 worth of the stock or 338 shares.

About 1.22M shares traded hands. Banc of California Inc (NYSE:BANC) has declined 21.82% since April 12, 2016 and is downtrending. It has underperformed by 26.81% the S&P500.

Banc of California, Inc. provides banking services to California’s diverse businesses, entrepreneurs and homeowners. The company has a market cap of $720.01 million. The Bank was formed through the merger of four of Southern California’s community banking franchises. It has a 9.59 P/E ratio. The Bank offers a range of financial services to meet the banking and financial needs of the communities it serves, with activities conducted through over 100 banking offices across California and across the West.

Banc of California Inc (NYSE:BANC) Ratings Coverage

Out of 6 analysts covering Banc of California (NYSE:BANC), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $24 is the highest target while $16 is the lowest. The $18.25 average target is 26.04% above today’s ($14.48) stock price. Banc of California has been the topic of 9 analyst reports since November 9, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Raymond James on Wednesday, May 4. As per Monday, May 23, the company rating was initiated by UBS. The rating was upgraded by DA Davidson on Thursday, October 20 to “Buy”. The firm has “Mkt Perform” rating by FBR Capital given on Thursday, October 20. Raymond James downgraded the shares of BANC in a report on Monday, November 9 to “Mkt Perform” rating. The stock of Banc of California Inc (NYSE:BANC) earned “Outperform” rating by Wells Fargo on Monday, May 2. FBR Capital initiated Banc of California Inc (NYSE:BANC) rating on Friday, July 1. FBR Capital has “Mkt Perform” rating and $20 price target.

More notable recent Banc of California Inc (NYSE:BANC) news were published by: Latimes.com which released: “Banc of California under pressure to investigate links to convicted fraudster” on November 01, 2016, also Foxbusiness.com with their article: “Why Shares of Banc of California, Inc. Are Plunging Today” published on October 18, 2016, Prnewswire.com published: “BANC OF CALIFORNIA INVESTOR REMINDER: Hagens Berman Reminds Investors in Banc …” on November 08, 2016. More interesting news about Banc of California Inc (NYSE:BANC) were released by: Prnewswire.com and their article: “Banc of California Announces Sale of Commercial Equipment Finance Division and …” published on October 28, 2016 as well as Businesswire.com‘s news article titled: “Federman & Sherwood Investigates Banc of California, Inc. for Possible …” with publication date: November 11, 2016.

According to Zacks Investment Research, “Banc of California, Inc. provides comprehensive banking services to California’s diverse private businesses, entrepreneurs and homeowners. It is the parent company of Banc of California, National Association.”

BANC Company Profile

Banc of California, Inc., incorporated on March 25, 2002, provides banking services to California’s diverse businesses, entrepreneurs and homeowners. The Bank was formed through the merger of four of Southern California’s community banking franchises. The Bank offers a range of financial services to meet the banking and financial needs of the communities it serves, with activities conducted through over 100 banking offices across California and across the West. The Bank’s deposit product and service offerings include checking, savings, money market, certificates of deposit, retirement accounts, as well as online, telephone and mobile banking, automated bill payment, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, trust services, card payment services, remote and mobile deposit capture, Automated Clearing House (ACH) origination, wire transfer, direct deposit and safe deposit boxes. As of date March 31, 2016, its clients have the ability to access their accounts through a network of over 55,000 Automated teller machines (ATMs).

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