Banc of California Inc. (BANC) to Release Earnings on Thursday
Banc of California Inc. (NYSE:BANC) will release its Q316 earnings data on Thursday, October 20th. Analysts expect Banc of California to post earnings of $0.42 per share and revenue of $86.77 million for the quarter.
Banc of California (NYSE:BANC) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Banc of California had a return on equity of 14.90% and a net margin of 14.65%. During the same quarter last year, the company earned $0.32 earnings per share. On average, analysts expect Banc of California to post $1.64 EPS for the current fiscal year and $1.99 EPS for the next fiscal year.
Banc of California Inc. (NYSE:BANC) opened at 11.26 on Wednesday. The stock has a market capitalization of $559.90 million, a price-to-earnings ratio of 7.40 and a beta of 0.76. The stock’s 50 day moving average price is $19.05 and its 200 day moving average price is $19.73. Banc of California Inc. has a 52-week low of $10.93 and a 52-week high of $23.24.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/banc-of-california-inc-banc-to-release-earnings-on-thursday.html
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 annualized dividend and a dividend yield of 4.26%. Banc of California’s dividend payout ratio is currently 32.65%.
Several research analysts recently issued reports on the company. Zacks Investment Research upgraded Banc of California from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. FBR & Co restated a “marketperform” rating on shares of Banc of California in a research report on Thursday, June 30th. Finally, FIG Partners downgraded Banc of California from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Banc of California currently has an average rating of “Hold” and a consensus target price of $21.00.
In other Banc of California news, insider Jeffrey T. Seabold sold 39,919 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $17.63, for a total value of $703,771.97. Following the completion of the transaction, the insider now directly owns 241,841 shares in the company, valued at approximately $4,263,656.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.13% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Banc of California by 8.5% in the second quarter. Arizona State Retirement System now owns 25,500 shares of the company’s stock valued at $462,000 after buying an additional 2,000 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Banc of California during the second quarter valued at $630,000. Landscape Capital Management L.L.C. acquired a new position in shares of Banc of California during the second quarter valued at $324,000. Capstone Investment Advisors LLC acquired a new position in shares of Banc of California during the second quarter valued at $597,000. Finally, Guggenheim Capital LLC acquired a new position in shares of Banc of California during the second quarter valued at $235,000. Institutional investors own 87.76% of the company’s stock.
Banc of California Company 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.
Receive News & Ratings for Banc of California Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California Inc. and related companies with MarketBeat.com's FREE daily email newsletter.