Banc of California, Inc. (BANC) Set to Announce Quarterly Earnings on Wednesday
Banc of California, Inc. (NYSE:BANC) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, July 19th. Analysts expect the company to announce earnings of $0.25 per share for the quarter.
Banc of California (NYSE:BANC) last issued its quarterly earnings results on Wednesday, May 3rd. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Banc of California had a net margin of 17.80% and a return on equity of 16.41%. The business had revenue of $95.38 million during the quarter, compared to the consensus estimate of $151.51 million. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts expect Banc of California to post $1.12 EPS for the current fiscal year and $1.63 EPS for the next fiscal year.
Banc of California, Inc. (NYSE BANC) opened at 20.75 on Monday. The company has a market cap of $983.11 million, a price-to-earnings ratio of 11.61 and a beta of 0.98. The stock has a 50 day moving average price of $21.05 and a 200 day moving average price of $19.57. Banc of California, Inc. has a 52 week low of $10.93 and a 52 week high of $23.25.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.52 annualized dividend and a dividend yield of 2.51%. Banc of California’s dividend payout ratio is currently 29.05%.
Several research firms have issued reports on BANC. ValuEngine downgraded Banc of California from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded Banc of California from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $22.00 price objective on Banc of California and gave the stock a “hold” rating in a research report on Thursday, July 6th. BidaskClub downgraded Banc of California from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, FBR & Co lowered their price objective on Banc of California from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.
About Banc of California
Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.
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