Banc of California (BANC) to Release Earnings on Wednesday

Banc of California (NYSE:BANC) will likely be announcing its earnings results after the market closes on Wednesday, April 23rd. Analysts expect the company to announce earnings of $0.24 per share and revenue of $272.36 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Banc of California Trading Up 2.4 %

BANC opened at $12.94 on Wednesday. The firm has a market capitalization of $2.05 billion, a PE ratio of 23.10 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.89. Banc of California has a fifty-two week low of $11.52 and a fifty-two week high of $18.08. The company’s 50-day moving average is $14.17 and its 200 day moving average is $15.24.

Banc of California Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, March 14th. Banc of California’s dividend payout ratio (DPR) is presently 71.43%.

Analyst Ratings Changes

BANC has been the topic of a number of recent analyst reports. StockNews.com upgraded Banc of California from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Wells Fargo & Company reduced their price objective on Banc of California from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on Banc of California in a research note on Friday, February 7th. They issued a “neutral” rating and a $18.00 price objective on the stock. Stephens lowered their target price on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Finally, Raymond James increased their price target on shares of Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.73.

Banc of California Company Profile

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.