BBCN Bancorp Inc. (BBCN) Sees Strong Trading Volume
BBCN Bancorp Inc. (NASDAQ:BBCN) shares saw unusually-strong trading volume on Friday . Approximately 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 equities research analysts have weighed in on BBCN shares. Zacks Investment Research downgraded BBCN Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Raymond James Financial Inc. reissued an “outperform” rating and issued a $17.00 price target on shares of BBCN Bancorp in a report on Monday, July 25th.
The firm has a market capitalization of $1.22 billion and a price-to-earnings ratio of 12.92. The firm has a 50 day moving average of $15.36 and a 200 day moving average of $15.23.
BBCN Bancorp (NASDAQ:BBCN) last announced its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm earned $81.76 million during the quarter, compared to analyst estimates of $82.99 million. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. On average, analysts forecast that BBCN Bancorp Inc. will post $1.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 8th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, July 6th.
Several large investors have recently bought and sold shares of BBCN. Comerica Bank increased its stake in BBCN Bancorp by 0.8% in the fourth quarter. Comerica Bank now owns 82,701 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 637 shares in the last quarter. Russell Frank Co purchased a new stake in BBCN Bancorp during the fourth quarter valued at about $2,078,000. Nationwide Fund Advisors increased 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 increased 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 increased 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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