This Form 144 is a routine intent notice for a de minimis common-stock sale by a large institutional holder. For the BANC-PF preferred, there is no direct credit impact — the sale involves common equity, not preferred. The larger prior sales (~$124M in May) suggest ongoing portfolio reduction by Warburg Pincus, but this does not affect preferred dividend coverage or issuer solvency. No action warranted for BANC-PF holders.
Price Chart
Executive Summary
Warburg Pincus LLC, a major institutional affiliate and investment manager, filed Form 144 on 2026-05-29 to sell approximately 102 shares of Banc of California, Inc. common stock (not the BANC-PF preferred) with an approximate market value of $1,962. The notice references two prior recent sales totaling ~$123.8M in May 2026 and notes the securities were acquired via merger consideration on 2023-11-30. This filing signals continued orderly distribution by a legacy institutional holder, but the tiny size relative to the entity's holdings and the bank's market cap is not material for the BANC-PF preferred security.
Key Facts
- Warburg Pincus LLC filed Form 144 on 2026-05-29 for a proposed sale of 102 shares of Banc of California common stock.
- Estimated aggregate market value of the proposed sale is ~$1,962 (based on filing's stated price).
- The filing notes two prior recent sales by Warburg Pincus affiliates: 2,640,244 shares on 05/07/2026 (~$49.9M) and 3,917,436 shares on 05/26/2026 (~$73.9M).
- Shares were originally acquired as merger consideration on 11/30/2023 from the First PacTrust Bancorp merger.
- This filing concerns issuer common stock, not the BANC-PF preferred series.
Financial Impact
Proposed sale of ~$2,000 in common stock is immaterial relative to Warburg Pincus's remaining holdings and Banc of California's market cap. Prior two May 2026 sales totaled ~$123.8M.
Risk Factors
- Warburg Pincus may continue to sell common shares over time, adding modest overhead supply.
- No material risk to BANC-PF preferred dividend or credit profile from this filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001193125-26-248737 |
| Document: 0001193125-26-248737-index.html | 0001193125-26-248737 |
| Document: 0001193125-26-248737.txt | 0001193125-26-248737 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | SC 13G/A | $17.17 | awaiting T+60 | — | $18.26 (+6.38%) |
Aug 12, 2026 10w ago | Institutional Cluster | $19.59 | awaiting T+60 | — | $18.26 (−6.76%) |
Jul 29, 2026 12w ago | 8-K | $18.59 $17.74 | ▼ −4.57% | ▼ −9.30% | $18.26 (−1.75%) |
May 29, 2026 21w ago | 144 | $25.20 $25.22 | ▲ +0.08% | ▼ −1.15% | $18.26 (−27.52%) |
May 26, 2026 21w ago | 144 | $25.27 $25.15 | ▼ −0.47% | ▼ −2.35% | $18.26 (−27.72%) |
May 7, 2026 24w ago | 144 | $25.62 $25.34 | ▼ −1.09% | ▼ −5.93% | $18.26 (−28.71%) |
Apr 22, 2026 26w ago | 8-K | $25.58 $25.29 | ▼ −1.13% | ▼ −6.15% | $18.26 (−28.60%) |
Mar 26, 2026 30w ago | DEFA14A | $24.94 $25.15 | ▲ +0.84% | ▼ −15.22% | $18.26 (−26.76%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers