Analysts forecast that Banc of California, Inc. (NYSE:BANC – Get Rating) will announce earnings per share (EPS) of $0.46 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Banc of California’s earnings, with estimates ranging from $0.34 to $0.64. Banc of California posted earnings of $0.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 84%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Banc of California will report full year earnings of $1.78 per share for the current financial year, with EPS estimates ranging from $1.60 to $2.03. For the next financial year, analysts forecast that the firm will post earnings of $2.01 per share, with EPS estimates ranging from $1.78 to $2.22. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Banc of California.
Banc of California (NYSE:BANC – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The bank reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.23. Banc of California had a net margin of 20.07% and a return on equity of 9.34%. During the same quarter in the prior year, the firm earned $0.25 EPS.
Shares of BANC opened at $18.93 on Friday. The company’s 50 day moving average price is $19.31 and its 200 day moving average price is $19.95. Banc of California has a 52 week low of $15.40 and a 52 week high of $22.09. The company has a market capitalization of $1.19 billion, a PE ratio of 19.32 and a beta of 1.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Tuesday, March 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Monday, March 14th. Banc of California’s dividend payout ratio is 24.49%.
In other news, CEO Jared M. Wolff acquired 5,015 shares of the firm’s stock in a transaction that occurred on Thursday, January 27th. The stock was acquired at an average cost of $19.70 per share, with a total value of $98,795.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Andrew Barker acquired 12,900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 1st. The shares were purchased at an average cost of $19.32 per share, with a total value of $249,228.00. The disclosure for this purchase can be found here. Insiders own 12.28% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BANC. Barclays PLC raised its stake in Banc of California by 75.6% during the 4th quarter. Barclays PLC now owns 123,846 shares of the bank’s stock valued at $2,430,000 after purchasing an additional 53,300 shares during the last quarter. BlackRock Inc. raised its stake in Banc of California by 25.1% during the 4th quarter. BlackRock Inc. now owns 8,790,648 shares of the bank’s stock valued at $172,473,000 after purchasing an additional 1,766,271 shares during the last quarter. Comerica Bank raised its stake in Banc of California by 16.0% during the 4th quarter. Comerica Bank now owns 47,179 shares of the bank’s stock valued at $917,000 after purchasing an additional 6,512 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Banc of California by 94.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 119,782 shares of the bank’s stock valued at $2,350,000 after purchasing an additional 58,231 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Banc of California by 3.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,738 shares of the bank’s stock valued at $505,000 after purchasing an additional 858 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.
About Banc of California (Get Rating)
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-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.
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