Banc of California (BANC) Set to Announce Quarterly Earnings on Monday

Banc of California (NYSE:BANC) will announce its earnings results before the market opens on Monday, January 29th. Analysts expect the company to announce earnings of $0.21 per share for the quarter.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Banc of California had a return on equity of 11.78% and a net margin of 15.48%. The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $84.24 million. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of Banc of California (NYSE:BANC) opened at $21.70 on Monday. Banc of California has a 12 month low of $14.40 and a 12 month high of $23.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $1,096.63, a price-to-earnings ratio of 19.04, a PEG ratio of 1.51 and a beta of 0.97.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Thursday, December 14th. Banc of California’s dividend payout ratio is presently 45.61%.

A number of equities research analysts have recently issued reports on BANC shares. BidaskClub raised Banc of California from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Zacks Investment Research raised Banc of California from a “strong sell” rating to a “hold” rating in a research report on Monday, October 9th. FBR & Co reaffirmed a “buy” rating and set a $24.00 target price on shares of Banc of California in a research report on Thursday, October 26th. ValuEngine lowered Banc of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Piper Jaffray Companies started coverage on Banc of California in a research report on Thursday, December 21st. They set an “overweight” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Banc of California currently has a consensus rating of “Buy” and a consensus price target of $23.50.

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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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