Shares of Banc of California Inc (NYSE:BANC) have received an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.50.
A number of equities analysts recently commented on the company. ValuEngine cut Banc of California from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James cut Banc of California from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Zacks Investment Research upgraded Banc of California from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Sandler O’Neill cut Banc of California from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its position in shares of Banc of California by 485.3% in the second quarter. Bank of Montreal Can now owns 4,413 shares of the bank’s stock valued at $62,000 after buying an additional 3,659 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Banc of California by 13.8% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the bank’s stock valued at $202,000 after buying an additional 1,786 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Banc of California by 8.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 14,828 shares of the bank’s stock valued at $210,000 after buying an additional 1,101 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Banc of California by 6.6% in the third quarter. Mason Street Advisors LLC now owns 15,232 shares of the bank’s stock valued at $215,000 after buying an additional 941 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Banc of California in the second quarter valued at approximately $261,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.
Banc of California stock traded down $0.01 during midday trading on Monday, reaching $15.35. 281,300 shares of the company’s stock were exchanged, compared to its average volume of 374,168. Banc of California has a 52 week low of $12.22 and a 52 week high of $17.66. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $781.56 million, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.96 and a beta of 1.38. The stock’s 50-day simple moving average is $14.60 and its 200 day simple moving average is $14.29.
Banc of California (NYSE:BANC) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.68). Banc of California had a return on equity of 7.67% and a net margin of 4.79%. The business had revenue of $62.10 million for the quarter, compared to the consensus estimate of $69.70 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Research analysts forecast that Banc of California will post 0.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.24 annualized dividend and a yield of 1.56%. Banc of California’s dividend payout ratio (DPR) is presently 48.98%.
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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