Banc of California, Inc. (NYSE:BANC) issued its quarterly earnings data on Thursday. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04, MarketWatch Earnings reports. Banc of California had a net margin of 17.12% and a return on equity of 14.44%. The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $84.24 million. During the same quarter in the prior year, the firm earned $0.59 EPS.

Shares of Banc of California (NYSE BANC) traded up 1.88% during midday trading on Friday, reaching $21.70. 1,031,773 shares of the company’s stock were exchanged. The stock has a market cap of $1.04 billion, a PE ratio of 14.52 and a beta of 0.99. The company’s 50 day moving average is $19.87 and its 200-day moving average is $20.44. Banc of California has a 12 month low of $12.25 and a 12 month high of $23.25.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, September 14th. Banc of California’s dividend payout ratio is currently 34.67%.

BANC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Banc of California and gave the stock a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, July 11th. ValuEngine lowered shares of Banc of California from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, BidaskClub lowered shares of Banc of California from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Banc of California presently has a consensus rating of “Hold” and a consensus target price of $22.67.

In other Banc of California news, CEO Douglas H. Bowers bought 57,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $17.56 per share, for a total transaction of $1,000,920.00. Following the completion of the transaction, the chief executive officer now directly owns 92,000 shares in the company, valued at approximately $1,615,520. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 16.89% of the company’s stock.

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Banc of California Company Profile

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.

Earnings History for Banc of California (NYSE:BANC)

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