FJ Capital Amends Banc of California Stake Disclosure

TL;DR

**FJ Capital Management just updated their Banc of California holdings, signaling a potential shift in institutional sentiment.**

AI Summary

FJ Capital Management LLC, an investment advisor, filed an amended SC 13G/A on February 6, 2024, indicating a change in their beneficial ownership of Banc of California, Inc. (BANC) common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows that FJ Capital Management LLC is part of a group that includes FINANCIAL OPPORTUNITY FUND LLC, FINANCIAL OPPORTUNITY LONG/SHORT FUND LLC, and FINANCIAL OPPORTUNITY LONG/SHORT FUND LLC - SERIES 2 FINTECH, along with Martin S. Friedman. This matters to investors because it provides transparency into significant institutional holdings and any changes, which can influence market perception and potentially the stock's price.

Why It Matters

Changes in institutional ownership can signal shifts in investor confidence or strategy, potentially impacting the stock's valuation and future performance.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of ownership changes and does not inherently present a high risk to investors.

Analyst Insight

Investors should monitor subsequent filings from FJ Capital Management LLC and other institutional investors to gauge evolving sentiment towards Banc of California, Inc. and consider how these ownership changes might influence the stock's stability or volatility.

Key Players & Entities

• FJ Capital Management LLC (company) — reporting person and investment advisor
• Banc of California, Inc. (company) — subject company whose stock is being reported
• FINANCIAL OPPORTUNITY FUND LLC (company) — member of the reporting group
• FINANCIAL OPPORTUNITY LONG/SHORT FUND LLC (company) — member of the reporting group
• FINANCIAL OPPORTUNITY LONG/SHORT FUND LLC - SERIES 2 FINTECH (company) — member of the reporting group
• Martin S. Friedman (person) — member of the reporting group

Forward-Looking Statements

• The disclosure of FJ Capital Management LLC's updated stake in Banc of California, Inc. will lead to increased scrutiny from other institutional investors. (Banc of California, Inc.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• eps11128_banc.htm (SC 13G/A) — 115KB
• 0001171520-24-000064.txt ( ) — 117KB

(a)

Item 1(a). Name of Issuer: Banc of California, Inc. (BANC)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 11611 San Vicente Boulevard, Suite 500 Los Angeles, CA 90049

(a)

Item 2(a). Name of Person Filing: This Schedule 13G is being filed on behalf of the following Reporting Persons: Financial Opportunity Fund LLC Financial Opportunity Long/Short Fund LLC Financial Opportunity Long/Short Fund LLC – Series 2 FinTech FJ Capital Management LLC Martin Friedman

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence: FJ Capital Management LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Long/Short Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Long/Short Fund LLC – Series 2 FinTech 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Martin Friedman 7901 Jones Branch Drive, Suite 210 McLean, VA 22102

(c)

Item 2(c). Citizenship: Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Financial Opportunity Long/Short Fund LLC – Series 2 FinTech, and FJ Capital Management LLC – Delaware limited liability companies Martin Friedman – United States citizen CUSIP No . 05990K 10 6 Page 8 of 11

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 05990K 10 6 Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: FJ Capital Management LLC – 3,903,757 shares Financial Opportunity Fund LLC – 3,322,782 shares Financial Opportunity Long/Short Fund LLC – 125,180 shares Financial Opportunity Long/Short Fund LLC – Series 2 FinTech – 4,696 shares Martin Friedman – 3,903,757 shares CUSIP No . 05990K 10 6 Page 9 of 11 (b) Percent of class: FJ Capital Management LLC – 2.31% Financial Opportunity Fund LLC – 1.97% Financial Opportunity Long/Short Fund LLC – 0.07% Financial Opportunity Long/Short Fund LLC – Series 2 FinTech – 0.00% Martin Friedman – 2.31% (c) Number of shares as to which

View Full Filing

View this SC 13G/A filing on SEC EDGAR