Banc of California Inc (NYSE:BANC) – Analysts at FIG Partners decreased their Q3 2018 earnings per share estimates for Banc of California in a research report issued on Friday. FIG Partners analyst T. Coffey now expects that the bank will post earnings of $0.22 per share for the quarter, down from their previous forecast of $0.24. FIG Partners currently has a “Underperform” rating on the stock. FIG Partners also issued estimates for Banc of California’s Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.87 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.99 EPS.
Banc of California (NYSE:BANC) last posted its earnings results on Thursday, January 25th. The bank reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The firm had revenue of $78.87 million for the quarter, compared to analysts’ expectations of $84.02 million. During the same period last year, the firm earned $0.54 EPS. The company’s quarterly revenue was down 31.7% on a year-over-year basis.
Shares of Banc of California (BANC) opened at $19.10 on Monday. Banc of California has a 12-month low of $17.10 and a 12-month high of $23.40. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $957.03, a PE ratio of 30.32, a PEG ratio of 1.63 and a beta of 0.95.
In other news, insider John A. Bogler acquired 20,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $19.30 per share, for a total transaction of $386,000.00. Following the acquisition, the insider now owns 37,500 shares in the company, valued at approximately $723,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.89% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Banc of California by 13.5% in the 2nd quarter. State Street Corp now owns 3,345,022 shares of the bank’s stock worth $71,920,000 after buying an additional 397,611 shares during the last quarter. Channing Capital Management LLC acquired a new stake in Banc of California in the 3rd quarter worth about $48,607,000. Victory Capital Management Inc. boosted its holdings in Banc of California by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,538,602 shares of the bank’s stock worth $31,773,000 after buying an additional 33,092 shares during the last quarter. EJF Capital LLC boosted its holdings in Banc of California by 19.5% in the 3rd quarter. EJF Capital LLC now owns 1,225,000 shares of the bank’s stock worth $25,419,000 after buying an additional 200,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Banc of California by 22.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 929,532 shares of the bank’s stock worth $19,287,000 after buying an additional 170,632 shares during the last quarter.
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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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