Banc of California (NYSE:BANC – Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.11, Yahoo Finance reports. Banc of California had a positive return on equity of 2.12% and a negative net margin of 21.99%. The firm had revenue of $431.44 million during the quarter, compared to the consensus estimate of $229.46 million. During the same period in the previous year, the company posted $0.30 earnings per share.
Banc of California Trading Up 0.1 %
BANC traded up $0.02 during trading on Friday, hitting $15.47. The company’s stock had a trading volume of 57,029 shares, compared to its average volume of 2,324,307. The stock has a market cap of $2.43 billion, a PE ratio of -4.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.83. Banc of California has a twelve month low of $10.53 and a twelve month high of $15.69. The firm’s 50 day moving average price is $14.44 and its 200-day moving average price is $13.91.
Banc of California Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. Banc of California’s dividend payout ratio is presently -12.01%.
Insider Activity
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Banc of California from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Wedbush raised their price target on shares of Banc of California from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays upped their price target on shares of Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Stephens raised their price objective on shares of Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.20.
Check Out Our Latest Report on BANC
About Banc of California
Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.
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