Banc of California (BANC) Expected to Announce Earnings on Wednesday

Banc of California (NYSE:BANC - Get Free Report) is expected to post its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect Banc of California to post earnings of $0.24 per share and revenue of $272.36 million for the quarter. Investors that wish to listen to 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 Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Banc of California had a return on equity of 6.20% and a net margin of 7.06%. On average, analysts expect Banc of California to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Banc of California Stock Performance

NYSE BANC traded up $0.22 during trading on Friday, reaching $13.19. The company's stock had a trading volume of 2,775,006 shares, compared to its average volume of 2,356,334. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.90. Banc of California has a twelve month low of $11.52 and a twelve month high of $18.08. The business's fifty day moving average price is $13.98 and its 200-day moving average price is $15.20. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 23.55 and a beta of 0.85.

Banc of California Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, March 14th. Banc of California's dividend payout ratio is presently 71.43%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BANC shares. Raymond James lifted their price objective on Banc of California from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Barclays lowered their price target on shares of Banc of California from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Banc of California from $20.00 to $16.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. StockNews.com raised Banc of California from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Finally, Stephens reduced their price objective on Banc of California from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.73.

About Banc of California

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.