Banc of California, Inc. (NYSE:BANC – Get Free Report) has been assigned a consensus rating of “Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.8333.
BANC has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Banc of California from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Banc of California in a research note on Wednesday, January 21st. Barclays cut their price target on Banc of California from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Keefe, Bruyette & Woods increased their price objective on Banc of California from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Piper Sandler lifted their target price on Banc of California from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 27th.
Check Out Our Latest Analysis on Banc of California
Institutional Inflows and Outflows
Banc of California Stock Performance
Shares of BANC stock opened at $18.86 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.83 billion, a P/E ratio of 14.39 and a beta of 0.75. The company’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $18.70. Banc of California has a 52 week low of $13.24 and a 52 week high of $21.61.
Banc of California (NYSE:BANC – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Banc of California had a net margin of 13.58% and a return on equity of 9.25%. The company had revenue of $286.95 million during the quarter, compared to analysts’ expectations of $291.28 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Banc of California will post 1.72 earnings per share for the current fiscal year.
Banc of California Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.12 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Banc of California’s dividend payout ratio (DPR) is 36.64%.
About Banc of California
Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.
Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.
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