Banc of California (NYSE:BANC) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect Banc of California to post earnings of $0.24 per share for the quarter.
Banc of California (NYSE:BANC) last announced its earnings results on Thursday, January 24th. The bank reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.18). The business had revenue of $73.50 million for the quarter, compared to analyst estimates of $76.00 million. Banc of California had a return on equity of 6.62% and a net margin of 10.18%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of BANC stock opened at $14.64 on Tuesday. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.01 and a quick ratio of 1.01. Banc of California has a 1-year low of $12.22 and a 1-year high of $20.45. The company has a market cap of $757.87 million, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.21 and a beta of 1.25.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, March 14th. Banc of California’s payout ratio is 106.12%.
Several analysts recently commented on BANC shares. B. Riley dropped their price target on Banc of California from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, December 18th. DA Davidson cut Banc of California from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a research report on Wednesday, March 6th. ValuEngine cut Banc of California from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Finally, Zacks Investment Research cut Banc of California from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.75.
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About Banc of California
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 and noninterest-bearing demand accounts, as well as certificates of deposits.
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