Banc of California (NYSE:BANC – Get Free Report) released its quarterly earnings results on Tuesday. The bank reported $0.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $431.44 million during the quarter, compared to analysts’ expectations of $229.46 million. During the same quarter in the prior year, the business posted $0.30 earnings per share.
Banc of California Stock Up 1.0 %
Banc of California stock traded up $0.16 during mid-day trading on Thursday, hitting $15.45. The company’s stock had a trading volume of 2,569,815 shares, compared to its average volume of 2,333,365. The firm’s 50 day moving average is $14.40 and its 200 day moving average is $13.89. The company has a market cap of $2.43 billion, a PE ratio of -4.61 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 52-week low of $10.03 and a 52-week high of $15.69.
Banc of California Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Monday, September 16th. Banc of California’s dividend payout ratio is currently -12.01%.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on BANC. Stephens upped their price objective on Banc of California from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday. Truist Financial upped their target price on Banc of California from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company upped their target price on Banc of California from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday. DA Davidson upped their target price on Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Raymond James upped their target price on Banc of California from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.20.
View Our Latest Stock Analysis on Banc of California
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.
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