Banc of California, Inc. (BANC) to Issue Quarterly Dividend of $0.12 on January 4th

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Friday, November 6th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.12 per share by the bank on Monday, January 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, December 15th.

Banc of California has increased its dividend payment by an average of 0.1% per year over the last three years. Banc of California has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banc of California to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.1%.

Banc of California Stock Performance

Shares of NYSE BANC opened at $17.98 on Friday. The stock has a market cap of $2.85 billion, a PE ratio of -52.90 and a beta of 0.74. Banc of California has a 1 year low of $16.12 and a 1 year high of $21.93. The firm has a fifty day moving average price of $17.97 and a 200-day moving average price of $18.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.85.

Banc of California (NYSE:BANC) last released its earnings results on Tuesday, October 27th. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $303.07 million for the quarter, compared to analysts’ expectations of $306.27 million. Banc of California had a negative net margin of 0.58% and a positive return on equity of 8.51%. Banc of California’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. Equities analysts anticipate that Banc of California will post 1.70 earnings per share for the current fiscal year.

About Banc of California

Banc of California, Inc is a bank holding company whose principal subsidiary, Banc of California, N.A., provides banking and financial services to businesses, professionals, nonprofit organizations and individuals. The bank operates as a full-service commercial bank, offering deposit accounts, commercial and consumer loans, home lending, treasury management, cash-management services and online and mobile banking.

The company primarily serves customers throughout California, with operations and relationships extending into select western markets.