Banc of California (BANC) to Release Quarterly Earnings on Thursday

Banc of California (NYSE:BANC - Get Free Report) is anticipated to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect Banc of California to post earnings of $0.23 per share and revenue of $247,930.00 billion for the quarter. Parties that wish to register for the company's conference call can do so using this link.

Banc of California (NYSE:BANC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.11. The firm had revenue of $431.44 million for the quarter, compared to analysts' expectations of $229.46 million. Banc of California had a negative net margin of 20.75% and a positive return on equity of 2.93%. During the same period in the previous year, the company posted $0.30 EPS. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Banc of California Stock Down 1.5 %

Shares of BANC traded down $0.25 during mid-day trading on Thursday, reaching $15.82. The company's stock had a trading volume of 1,464,513 shares, compared to its average volume of 1,822,891. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -3.71 and a beta of 1.14. The business has a fifty day moving average of $16.21 and a 200 day moving average of $14.89. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. Banc of California has a 1 year low of $11.88 and a 1 year high of $18.08.

Banc of California Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, December 16th. Banc of California's dividend payout ratio is currently -9.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BANC. Truist Financial lifted their target price on Banc of California from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Stephens boosted their price objective on shares of Banc of California from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. Wedbush increased their target price on shares of Banc of California from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Citigroup began coverage on shares of Banc of California in a research note on Thursday, October 10th. They set a "neutral" rating and a $15.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of Banc of California from $17.50 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.10.

Banc of California Company Profile

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.