Analysts expect Banc of California Inc (NYSE:BANC) to announce earnings per share (EPS) of $0.16 for the current quarter, Zacks reports. Five analysts have issued estimates for Banc of California’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.22. Banc of California reported earnings of $0.08 per share during the same quarter last year, which suggests a positive year over year growth rate of 100%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Banc of California will report full-year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.72 to $1.05. For the next fiscal year, analysts anticipate that the business will post earnings of $1.21 per share, with EPS estimates ranging from $0.96 to $1.38. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Banc of California.
Banc of California (NYSE:BANC) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The company had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue was down 31.7% compared to the same quarter last year.
Shares of Banc of California (BANC) opened at $20.50 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 2.51. Banc of California has a 12 month low of $17.10 and a 12 month high of $23.40. The company has a market capitalization of $1,030.00, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.90 and a beta of 0.95.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, March 14th. Banc of California’s dividend payout ratio is presently 82.54%.
In other news, insider John A. Bogler acquired 20,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $19.30 per share, with a total value of $386,000.00. Following the completion of the acquisition, the insider now owns 37,500 shares of the company’s stock, valued at $723,750. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.89% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BANC. California Public Employees Retirement System grew its holdings in Banc of California by 2.6% during the second quarter. California Public Employees Retirement System now owns 62,200 shares of the bank’s stock worth $1,337,000 after acquiring an additional 1,600 shares during the period. Voya Investment Management LLC grew its holdings in Banc of California by 11.2% during the second quarter. Voya Investment Management LLC now owns 23,280 shares of the bank’s stock worth $501,000 after acquiring an additional 2,340 shares during the period. State Street Corp grew its holdings in Banc of California by 13.5% during the second quarter. State Street Corp now owns 3,345,022 shares of the bank’s stock worth $71,920,000 after acquiring an additional 397,611 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Banc of California by 2.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,519 shares of the bank’s stock worth $334,000 after acquiring an additional 319 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Banc of California by 12.3% during the third quarter. Fisher Asset Management LLC now owns 117,148 shares of the bank’s stock worth $2,431,000 after acquiring an additional 12,842 shares during the period.
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About Banc of California
Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.
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