Banc of California, Inc. (NYSE:BANC) to Release Earnings on Wednesday
Banc of California, Inc. (NYSE:BANC) is scheduled to be announcing its earnings results before the market opens on Wednesday, July 19th. Analysts expect the company to announce earnings of $0.25 per share for the quarter.
Banc of California (NYSE:BANC) last announced its earnings results on Wednesday, May 3rd. The bank reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. Banc of California had a net margin of 17.80% and a return on equity of 16.41%. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates of $151.51 million. During the same period in the previous year, the company earned $0.36 EPS. On average, analysts expect Banc of California to post $1.14 EPS for the current fiscal year and $1.65 EPS for the next fiscal year.
Banc of California, Inc. (BANC) opened at 20.80 on Tuesday. Banc of California, Inc. has a one year low of $10.93 and a one year high of $23.25. The firm’s 50 day moving average price is $21.05 and its 200-day moving average price is $19.57. The firm has a market cap of $985.48 million, a PE ratio of 11.63 and a beta of 0.97.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Tuesday, June 13th. Banc of California’s dividend payout ratio (DPR) is 29.05%.
BANC has been the topic of several research analyst reports. FBR & Co reissued a “buy” rating and set a $25.00 price target on shares of Banc of California in a research note on Wednesday, April 5th. Zacks Investment Research raised Banc of California from a “strong sell” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub raised Banc of California from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods lowered Banc of California from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research note on Thursday, May 4th. Finally, ValuEngine lowered Banc of California from a “buy” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Banc of California currently has an average rating of “Buy” and a consensus target price of $23.00.
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Banc of California Company Profile
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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