Banc of California (NYSE:BANC – Get Free Report) released its quarterly earnings results on Tuesday. The bank reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07), Briefing.com reports. Banc of California had a negative net margin of 29.10% and a positive return on equity of 2.25%. The company had revenue of $522.57 million during the quarter, compared to the consensus estimate of $296.02 million. During the same quarter last year, the firm posted $0.37 EPS.
Banc of California Stock Performance
Banc of California stock opened at $14.08 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50 day moving average is $14.49 and its 200 day moving average is $13.32. Banc of California has a twelve month low of $9.72 and a twelve month high of $16.08.
Banc of California Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.84%. Banc of California’s payout ratio is currently -12.01%.
Insider Buying and Selling
Wall Street Analyst Weigh In
BANC has been the topic of a number of research reports. StockNews.com initiated coverage on Banc of California in a research note on Monday, January 29th. They set a “hold” rating on the stock. Truist Financial reaffirmed a “hold” rating and set a $16.00 price target on shares of Banc of California in a research report on Monday, April 1st. Wedbush reduced their price objective on Banc of California from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays cut their price target on Banc of California from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised Banc of California from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $18.00 in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.92.
Get Our Latest Research Report on BANC
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.
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