Banc of California Inc (BANC) Plans Quarterly Dividend of $0.12
Banc of California (NASDAQ:BANC) declared a quarterly dividend on Tuesday, September 2nd, AR Network reports. Shareholders of record on Friday, September 12th will be given a dividend of 0.12 per share on Wednesday, October 1st. This represents a $0.48 dividend on an annualized basis and a yield of 3.99%.
BANC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Banc of California from an “underperform” rating to an “outperform” rating in a research note on Tuesday, August 12th. They now have a $12.70 price target on the stock. On a related note, analysts at Keefe, Bruyette & Woods raised their price target on shares of Banc of California from $11.00 to $13.00 in a research note on Friday, August 1st. They now have a “market perform” rating on the stock. Finally, analysts at DA Davidson upgraded shares of Banc of California from a “neutral” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $14.50 price target on the stock, up previously from $11.00. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Banc of California currently has an average rating of “Buy” and an average target price of $13.49.
Banc of California (NASDAQ:BANC) traded up 1.16% during mid-day trading on Tuesday, hitting $12.16. The stock had a trading volume of 27,102 shares. Banc of California has a 52 week low of $9.70 and a 52 week high of $14.75. The stock’s 50-day moving average is $11.70 and its 200-day moving average is $11.7. The company’s market cap is $344.9 million.
Banc of California (NASDAQ:BANC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.13. On average, analysts predict that Banc of California will post $0.81 earnings per share for the current fiscal year.
In other Banc of California news, CEO Steven Sugarman bought 4,050 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $12.17 per share, for a total transaction of $49,288.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Banc of California, Inc, formerly First PacTrust Bancorp, Inc, is a multi-bank holding company. The Company provides commercial, residential and consumer banking and related financial services through approximately 19 banking offices located in Los Angeles, Orange, San Diego and Riverside, California, and 23 loan production offices in California, Arizona, Oregon and Washington.
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