Q3 2019 EPS Estimates for Banc of California Inc Cut by B. Riley (NYSE:BANC)

Banc of California Inc (NYSE:BANC) – B. Riley lowered their Q3 2019 earnings per share estimates for shares of Banc of California in a research report issued on Thursday, July 11th. B. Riley analyst S. Moss now forecasts that the bank will earn $0.16 per share for the quarter, down from their prior estimate of $0.17. B. Riley also issued estimates for Banc of California’s Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.67 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.13 EPS and FY2020 earnings at $0.62 EPS.

Banc of California (NYSE:BANC) last released its earnings results on Tuesday, April 23rd. The bank reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.19). Banc of California had a return on equity of 7.52% and a net margin of 9.63%. The firm had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $75.56 million. During the same quarter in the previous year, the company posted $0.06 earnings per share.

Separately, Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.75.

BANC stock opened at $13.98 on Friday. The stock’s 50 day moving average price is $13.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.00 and a quick ratio of 1.00. Banc of California has a fifty-two week low of $12.22 and a fifty-two week high of $20.45. The stock has a market capitalization of $710.74 million, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.45 and a beta of 1.27.

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a $0.06 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.24 annualized dividend and a yield of 1.72%. Banc of California’s dividend payout ratio is currently 48.98%.

Institutional investors have recently made changes to their positions in the business. Legacy Advisors LLC purchased a new position in Banc of California in the first quarter valued at approximately $31,000. PNC Financial Services Group Inc. increased its stake in Banc of California by 140.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,942 shares of the bank’s stock valued at $119,000 after purchasing an additional 5,218 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Banc of California by 55,825.0% in the first quarter. BNP Paribas Arbitrage SA now owns 8,948 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,932 shares during the last quarter. Pearl River Capital LLC increased its stake in Banc of California by 1,016.5% in the first quarter. Pearl River Capital LLC now owns 8,932 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,132 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Banc of California in the first quarter valued at approximately $143,000. Institutional investors own 99.28% of the company’s stock.

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 and noninterest-bearing demand accounts, as well as certificates of deposits.

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Earnings History and Estimates for Banc of California (NYSE:BANC)

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