Banc of California, Inc. (NYSE:BANC) to Issue Dividend Increase – $0.12 Per Share

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Thursday, February 5th. Investors of record on Monday, March 16th will be paid a dividend of 0.12 per share by the bank on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, March 16th. This is a 20.0% increase from Banc of California’s previous quarterly dividend of $0.10.

Banc of California has raised its dividend by an average of 0.1%annually over the last three years. Banc of California has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Banc of California to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 24.2%.

Banc of California Trading Up 0.2%

NYSE:BANC traded up $0.05 during midday trading on Thursday, hitting $20.18. The stock had a trading volume of 4,118,542 shares, compared to its average volume of 2,882,250. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 17.10 and a beta of 0.72. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. Banc of California has a one year low of $11.52 and a one year high of $21.61. The stock has a 50-day moving average of $19.80 and a 200 day moving average of $17.61.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. Banc of California had a net margin of 12.59% and a return on equity of 8.66%. The company had revenue of $292.93 million during the quarter, compared to analyst estimates of $288.41 million. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts forecast that Banc of California will post 1.31 EPS for the current year.

Banc of California Company Profile

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.