Banc of California (BANC) Projected to Post Earnings on Thursday

Banc of California (NYSE:BANC) is projected to issue its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.23 per share and revenue of $247,930.00 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.11. The company had revenue of $431.44 million during the quarter, compared to analysts’ expectations of $229.46 million. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. During the same period in the prior year, the company posted $0.30 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.

Banc of California Price Performance

BANC stock opened at $16.25 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $16.19 and its 200 day simple moving average is $14.99. Banc of California has a 12-month low of $11.88 and a 12-month high of $18.08. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -3.81 and a beta of 1.14.

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, December 16th. Banc of California’s dividend payout ratio is -9.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BANC. Raymond James lifted their target price on Banc of California from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of Banc of California from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $20.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on shares of Banc of California from $17.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stephens raised their price target on shares of Banc of California from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Barclays upped their price objective on shares of Banc of California from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.10.

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.