Banc of California (BANC) to Release Earnings on Thursday

Banc of California (NYSE:BANC) is expected to be issuing its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.23 per share and revenue of $247,930.00 billion for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Banc of California (NYSE:BANC) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.11. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. The company had revenue of $431.44 million for the quarter, compared to analysts’ expectations of $229.46 million. During the same period in the previous year, the firm 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 Price Performance

Shares of Banc of California stock opened at $16.17 on Tuesday. The stock has a market capitalization of $2.57 billion, a P/E ratio of -3.79 and a beta of 1.14. The business has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $14.96. Banc of California has a 12 month low of $11.88 and a 12 month high of $18.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

Banc of California Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, December 16th. Banc of California’s payout ratio is -9.37%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BANC. 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 on the stock. Wedbush upped their price objective on shares of Banc of California from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays raised their target price on shares of Banc of California from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $20.00 in a research report on Monday, January 6th. Finally, Raymond James lifted their price objective on Banc of California from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.10.

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.