BBCN Bancorp Sees Large Volume Increase After Dividend Announcement (BBCN)
BBCN Bancorp (NASDAQ:BBCN) saw strong trading volume on Wednesday following a dividend announcement from the company, American Banking and Market News reports. 544,378 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 342,505 shares.The stock last traded at $14.91 and had previously closed at $15.25.
The newly announced dividend is scheduled for Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.62%.
Separately, analysts at BMO Capital Markets cut their price target on shares of BBCN Bancorp from $18.00 to $17.00 in a research note on Wednesday. They now have a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. BBCN Bancorp has a consensus rating of “Buy” and an average target price of $17.10.
The stock’s 50-day moving average is $15.94 and its 200-day moving average is $16.10. The company has a market cap of $1.184 billion and a price-to-earnings ratio of 14.12.
BBCN Bancorp (NASDAQ:BBCN) last announced its earnings results on Monday, July 21st. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.01. On average, analysts predict that BBCN Bancorp will post $1.16 earnings per share for the current fiscal year.
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