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

Banc of California (NYSE:BANC - Get Free Report) is expected to be posting its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect Banc of California to post earnings of $0.24 per share and revenue of $272.36 million for the quarter. Individual that are interested in participating in the company's earnings conference call can do so using this link.

Banc of California (NYSE:BANC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. 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 Up 1.7 %

Shares of BANC stock traded up $0.22 during mid-day trading on Friday, hitting $13.19. 2,775,006 shares of the stock traded hands, compared to its average volume of 2,358,855. Banc of California has a 52-week low of $11.52 and a 52-week high of $18.08. The stock has a market cap of $2.09 billion, a P/E ratio of 23.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. The stock's fifty day moving average is $13.98 and its two-hundred day moving average is $15.22.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 3.03%. Banc of California's dividend payout ratio (DPR) is presently 71.43%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BANC shares. Stephens cut their price target on shares of Banc of California from $18.00 to $17.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Barclays reduced their target price on Banc of California from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James raised their price target on Banc of California from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. initiated coverage on Banc of California in a research note on Friday, February 7th. They set a "neutral" rating and a $18.00 price target on the stock. Finally, StockNews.com raised shares of Banc of California from a "sell" rating to a "hold" rating in a research report on Friday, January 24th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.73.

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.