Banc of California (BANC) Set to Announce Earnings on Tuesday

Banc of California (NYSE:BANC) is scheduled to release its earnings data before the market opens on Tuesday, April 23rd. Analysts expect Banc of California to post earnings of $0.26 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Banc of California (NYSE:BANC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported ($4.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($4.27). Banc of California had a positive return on equity of 1.14% and a negative net margin of 44.04%. The company had revenue of $193.06 million during the quarter, compared to analysts’ expectations of $163.11 million. During the same period last year, the firm posted $0.45 earnings per share. On average, analysts expect Banc of California to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Banc of California Trading Down 1.6 %

Shares of Banc of California stock opened at $13.93 on Tuesday. Banc of California has a 52-week low of $9.72 and a 52-week high of $16.08. The stock’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $13.24. The stock has a market capitalization of $2.19 billion, a P/E ratio of -4.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.90.

Banc of California Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Thursday, March 14th. Banc of California’s dividend payout ratio is presently -12.66%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods raised Banc of California from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $16.00 to $18.00 in a research note on Friday, March 22nd. Wedbush raised their price target on Banc of California from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, January 26th. StockNews.com initiated coverage on Banc of California in a report on Monday, January 29th. They issued a “hold” rating for the company. Wells Fargo & Company upped their price objective on Banc of California from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Barclays started coverage on Banc of California in a research report on Friday, March 8th. They issued an “equal weight” rating and a $16.00 target price for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.07.

Insider Buying and Selling at Banc of California

In related news, Director James Andrew Barker acquired 10,000 shares of Banc of California stock in a transaction on Wednesday, February 14th. The stock was purchased at an average cost of $13.16 per share, with a total value of $131,600.00. Following the purchase, the director now directly owns 159,680 shares in the company, valued at $2,101,388.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Banc of California

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Banc of California by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,021 shares of the bank’s stock worth $367,000 after buying an additional 829 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Banc of California by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 18,167 shares of the bank’s stock worth $210,000 after buying an additional 980 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Banc of California by 14.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,649 shares of the bank’s stock worth $122,000 after buying an additional 994 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Banc of California by 34.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the bank’s stock worth $48,000 after buying an additional 1,067 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Banc of California by 4.1% during the 1st quarter. State of Tennessee Treasury Department now owns 30,844 shares of the bank’s stock worth $386,000 after buying an additional 1,228 shares in the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.

Banc of California Company Profile

Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.