Banc of California (BANC) to Release Earnings on Wednesday

Banc of California (NYSE:BANC) is expected to be releasing its earnings data 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.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping 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 Trading Down 2.4 %

BANC stock opened at $12.89 on Tuesday. The firm has a market cap of $2.05 billion, a PE ratio of 23.02 and a beta of 0.85. The firm has a fifty day moving average price of $13.92 and a 200 day moving average price of $15.22. 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 fifty-two week low of $11.52 and a fifty-two week high of $18.08.

Banc of California Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, March 14th. Banc of California’s dividend payout ratio is 71.43%.

Wall Street Analyst Weigh In

BANC has been the topic of a number of recent research reports. Barclays decreased their price objective on Banc of California from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Banc of California from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Wells Fargo & Company cut their price target 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. Stephens dropped their target price on Banc of California from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, Raymond James raised their price target on Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.