Banc of California (BANC) Projected to Post Quarterly Earnings on Wednesday

Key Points

• Banc of California (BANC) is set to report quarterly results after the close on Wednesday, April 22, with analysts expecting $0.3761 EPS and $291.28M revenue; the bank reported $0.42 EPS and $292.93M revenue in the prior quarter.
• The company recently raised its quarterly dividend to $0.12 (paid April 1), implying a $0.48 annualized payout and a ~2.6% yield with a dividend payout ratio of 40.68%.
• BANC has a market cap of $2.78B and a P/E of 15.68, carries a consensus analyst rating of Moderate Buy with a $20.27 price target, and about 86.9% of shares are held by institutions.

Banc of California (NYSE:BANC - Get Free Report) is expected to announce its results after the market closes on Wednesday, April 22nd. Analysts expect the company to announce earnings of $0.3761 per share and revenue of $291.2820 million for the quarter.

Banc of California (NYSE:BANC - Get Free Report) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Banc of California had a return on equity of 8.66% and a net margin of 12.59%.The firm had revenue of $292.93 million for the quarter, compared to the consensus estimate of $288.41 million. During the same quarter last year, the business posted $0.28 EPS. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Banc of California Stock Performance

BANC opened at $18.50 on Wednesday. The business's 50-day moving average price is $18.40 and its two-hundred day moving average price is $18.48. Banc of California has a 1 year low of $12.65 and a 1 year high of $21.61. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 15.68 and a beta of 0.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89.

Banc of California Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.48 annualized dividend and a dividend yield of 2.6%. This is a positive change from Banc of California's previous quarterly dividend of $0.10. Banc of California's dividend payout ratio (DPR) is 40.68%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BANC shares. Weiss Ratings reissued a "hold (c)" rating on shares of Banc of California in a research note on Wednesday, January 21st. Barclays dropped their price target on Banc of California from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen raised Banc of California from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Keefe, Bruyette & Woods raised their price objective on Banc of California from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Banc of California from $25.00 to $20.50 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.27.

Institutional Trading of Banc of California

A number of hedge funds and other institutional investors have recently modified their holdings of BANC. Triumph Capital Management acquired a new stake in shares of Banc of California in the third quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Banc of California in the third quarter valued at about $36,000. Meeder Asset Management Inc. acquired a new stake in shares of Banc of California in the fourth quarter valued at about $44,000. Danske Bank A S acquired a new stake in shares of Banc of California in the third quarter valued at about $70,000. Finally, Arax Advisory Partners increased its position in shares of Banc of California by 165.3% in the fourth quarter. Arax Advisory Partners now owns 3,829 shares of the bank's stock valued at $74,000 after acquiring an additional 2,386 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company's stock.

Banc of California Company Profile

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.

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