Banc of California (BANC) to Release Earnings on Wednesday

Banc of California (NYSE:BANC) is anticipated to post its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect Banc of California to post earnings of $0.24 per share and revenue of $272.36 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Banc of California (NYSE:BANC) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a net margin of 7.06% and a return on equity of 6.20%. 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 Stock Up 2.4 %

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

Banc of California Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 subject of a number of research reports. Barclays dropped their target price on shares of Banc of California from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their target price on Banc of California from $20.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Stephens reduced their price target on shares of Banc of California from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. started coverage on shares of Banc of California in a research note on Friday, February 7th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, StockNews.com raised shares of Banc of California from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.