Banc of California (NYSE:BANC) will issue its quarterly earnings data before the market opens on Thursday, January 21st. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.
Banc of California (NYSE:BANC) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.09. The firm had revenue of $59.80 million for the quarter, compared to the consensus estimate of $61.98 million. Banc of California had a net margin of 1.62% and a return on equity of 3.88%. The business's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.45) EPS. On average, analysts expect Banc of California to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of NYSE BANC opened at $17.32 on Thursday. The firm's 50-day moving average price is $14.99 and its 200-day moving average price is $12.18. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. The company has a market cap of $870.16 million, a PE ratio of -91.16, a PEG ratio of 2.11 and a beta of 1.85. Banc of California has a 52-week low of $6.44 and a 52-week high of $19.12.
The business also recently declared a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Monday, December 14th. Banc of California's payout ratio is presently 30.38%.
BANC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Banc of California from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Tuesday, October 27th. Piper Sandler raised their price objective on shares of Banc of California from $19.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, January 8th. Finally, B. Riley raised their price objective on shares of Banc of California from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $15.10.
In other news, CEO Jared M. Wolff bought 10,000 shares of the firm's stock in a transaction on Thursday, October 29th. The shares were bought at an average price of $11.50 per share, for a total transaction of $115,000.00. Following the purchase, the chief executive officer now owns 168,475 shares in the company, valued at $1,937,462.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary A. Curran acquired 4,200 shares of Banc of California stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $12.13 per share, for a total transaction of $50,946.00. Following the transaction, the director now owns 9,161 shares of the company's stock, valued at $111,122.93. The disclosure for this purchase can be found here. 10.87% of the stock is currently owned by company insiders.
Banc of California Company Profile
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.
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