Wall Street analysts forecast that Banc of California Inc (NYSE:BANC) will post earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Banc of California’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.22. Banc of California posted earnings of $0.05 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 240%. The business is expected to issue its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that Banc of California will report full-year earnings of $0.02 per share for the current year, with EPS estimates ranging from $0.00 to $0.06. For the next financial year, analysts expect that the business will report earnings of $0.80 per share, with EPS estimates ranging from $0.60 to $0.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Banc of California.
Banc of California (NYSE:BANC) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported ($0.45) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.68). The company had revenue of $62.10 million for the quarter, compared to analyst estimates of $69.70 million. Banc of California had a return on equity of 7.67% and a net margin of 4.79%. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS.
Shares of Banc of California stock traded up $0.34 during trading on Tuesday, reaching $17.36. 131,300 shares of the company traded hands, compared to its average volume of 377,426. The firm has a market capitalization of $869.59 million, a PE ratio of 35.43, a P/E/G ratio of 2.18 and a beta of 1.38. Banc of California has a 1-year low of $12.39 and a 1-year high of $17.66. The company has a 50 day moving average price of $15.56 and a 200-day moving average price of $14.59. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.17 and a quick ratio of 1.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.24 annualized dividend and a yield of 1.38%. Banc of California’s payout ratio is currently 48.98%.
In other Banc of California news, Director James Andrew Barker acquired 10,820 shares of the stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $16.39 per share, for a total transaction of $177,339.80. Following the completion of the acquisition, the director now owns 3,405 shares in the company, valued at approximately $55,807.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jared M. Wolff acquired 16,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $15.18 per share, for a total transaction of $250,470.00. Following the acquisition, the chief executive officer now owns 152,872 shares of the company’s stock, valued at approximately $2,320,596.96. The disclosure for this purchase can be found here. Company insiders own 11.06% of the company’s stock.
Several large investors have recently bought and sold shares of BANC. Metropolitan Life Insurance Co NY raised its holdings in shares of Banc of California by 8.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,828 shares of the bank’s stock worth $210,000 after acquiring an additional 1,101 shares during the last quarter. California State Teachers Retirement System boosted its stake in Banc of California by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 70,605 shares of the bank’s stock valued at $998,000 after purchasing an additional 843 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Banc of California by 6.6% during the 3rd quarter. Mason Street Advisors LLC now owns 15,232 shares of the bank’s stock valued at $215,000 after purchasing an additional 941 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in Banc of California during the 3rd quarter worth approximately $508,000. Finally, Russell Investments Group Ltd. increased its holdings in Banc of California by 9,099.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 367,068 shares of the bank’s stock worth $5,190,000 after purchasing an additional 363,078 shares in the last quarter. 99.29% of the stock is owned by institutional investors.
Banc of California Company Profile
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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