Banc of California (NYSE:BANC) will issue its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.
Banc of California (NYSE:BANC) last released its earnings results on Wednesday, October 23rd. The bank reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.68). The company had revenue of $62.10 million during the quarter, compared to analyst estimates of $69.70 million. Banc of California had a return on equity of 7.67% and a net margin of 4.79%. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
BANC stock opened at $17.03 on Thursday. The firm has a 50 day moving average of $16.56 and a 200 day moving average of $14.94. The stock has a market capitalization of $872.14 million, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.60. Banc of California has a 52 week low of $13.10 and a 52 week high of $17.66.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, December 17th. Banc of California’s dividend payout ratio (DPR) is presently 48.98%.
In other Banc of California news, CEO Jared M. Wolff acquired 16,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $15.18 per share, for a total transaction of $250,470.00. Following the purchase, the chief executive officer now owns 152,872 shares in the company, valued at approximately $2,320,596.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Andrew Barker acquired 10,820 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $16.39 per share, with a total value of $177,339.80. Following the completion of the purchase, the director now owns 3,405 shares in the company, valued at approximately $55,807.95. The disclosure for this purchase can be found here. 11.06% of the stock is owned by company insiders.
BANC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Banc of California from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Monday. ValuEngine cut shares of Banc of California from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.67.
Banc of California Company Profile
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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