Banc of California (NYSE:BANC – Get Free Report) issued its earnings results on Tuesday. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07), Briefing.com reports. Banc of California had a positive return on equity of 1.14% and a negative net margin of 44.04%. The business had revenue of $522.57 million during the quarter, compared to the consensus estimate of $296.02 million. During the same period in the prior year, the business earned $0.37 EPS.
Banc of California Stock Down 1.6 %
Shares of Banc of California stock traded down $0.23 during midday trading on Wednesday, reaching $13.72. 1,416,467 shares of the company’s stock traded hands, compared to its average volume of 2,446,919. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. The company’s 50 day simple moving average is $14.49 and its 200 day simple moving average is $13.32. 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 has a 52 week low of $9.72 and a 52 week high of $16.08.
Banc of California Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. Banc of California’s dividend payout ratio is currently -12.66%.
Analyst Ratings Changes
Get Our Latest Research Report on BANC
Insider Activity
In other news, Director Richard J. Lashley bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of $21.40 per share, for a total transaction of $214,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $214,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.37% of the stock is owned by insiders.
About Banc of California
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.
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