BBCN Bancorp Inc. (BBCN) Sees Strong Trading Volume
BBCN Bancorp Inc. (NASDAQ:BBCN) saw an uptick in trading volume on Friday . 2,528,970 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 841,475 shares.The stock last traded at $15.37 and had previously closed at $15.58.
Several brokerages have weighed in on BBCN. Zacks Investment Research upgraded BBCN Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. Raymond James Financial Inc. restated an “outperform” rating and issued a $17.00 price target on shares of BBCN Bancorp in a research note on Monday, July 25th.
The firm has a market cap of $1.22 billion and a PE ratio of 12.92. The firm’s 50 day moving average price is $15.36 and its 200-day moving average price is $15.23.
BBCN Bancorp (NASDAQ:BBCN) last announced its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. The firm earned $81.76 million during the quarter, compared to analyst estimates of $82.99 million. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Analysts anticipate that BBCN Bancorp Inc. will post $1.27 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 8th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, July 6th.
Other institutional investors have recently modified their holdings of the company. Comerica Bank raised its position in shares of BBCN Bancorp by 0.8% in the fourth quarter. Comerica Bank now owns 82,701 shares of the financial services provider’s stock worth $1,296,000 after buying an additional 637 shares during the last quarter. Russell Frank Co bought a new stake in BBCN Bancorp during the fourth quarter valued at $2,078,000. Nationwide Fund Advisors raised its stake in BBCN Bancorp by 81.3% in the fourth quarter. Nationwide Fund Advisors now owns 140,683 shares of the financial services provider’s stock valued at $2,423,000 after buying an additional 63,075 shares in the last quarter. Rhumbline Advisers raised its stake in BBCN Bancorp by 4.1% in the fourth quarter. Rhumbline Advisers now owns 151,195 shares of the financial services provider’s stock valued at $2,604,000 after buying an additional 5,950 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in BBCN Bancorp by 20.5% in the fourth quarter. First Trust Advisors LP now owns 163,247 shares of the financial services provider’s stock valued at $2,811,000 after buying an additional 27,803 shares in the last quarter.
BBCN Bancorp, Inc is a bank holding company. The Company offers commercial banking loan and deposit products through its wholly owned subsidiary, BBCN Bank (Bank), a California state-chartered bank. The Company offer commercial banking and consumer deposit products through the Bank. The Company offers its banking services through a network of banking offices and loan production offices to its customers who typically are small- to medium-sized businesses.
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