Banc of California, Inc. (BANC) To Go Ex-Dividend on June 15th

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, June 15th will be given a dividend of 0.12 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th.

Banc of California has increased its dividend by an average of 0.1%per year over the last three years. Banc of California has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banc of California to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.9%.

Banc of California Trading Up 1.5%

NYSE:BANC opened at $20.17 on Friday. The firm’s fifty day moving average is $18.78 and its 200-day moving average is $19.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. Banc of California has a 52 week low of $13.24 and a 52 week high of $21.61. The firm has a market cap of $3.11 billion, a P/E ratio of 15.39 and a beta of 0.74.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $286.95 million for the quarter, compared to analyst estimates of $291.28 million. Banc of California had a net margin of 13.58% and a return on equity of 9.25%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Equities analysts expect that Banc of California will post 1.72 earnings per share for the current year.

About Banc of California

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.