Banc of California Inc (NYSE:BANC) – Investment analysts at B. Riley lowered their FY2019 EPS estimates for Banc of California in a research note issued on Wednesday, April 24th. B. Riley analyst S. Moss now forecasts that the bank will earn $0.58 per share for the year, down from their previous forecast of $0.95. B. Riley has a “Hold” rating and a $14.00 price target on the stock. B. Riley also issued estimates for Banc of California’s Q2 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.19 EPS and FY2020 earnings at $0.65 EPS.
Banc of California (NYSE:BANC) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.19). Banc of California had a net margin of 9.63% and a return on equity of 7.52%. The business had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $75.56 million. During the same period in the previous year, the company earned $0.06 EPS.
NYSE BANC opened at $14.47 on Friday. Banc of California has a 52 week low of $12.22 and a 52 week high of $20.45. The stock has a market cap of $733.01 million, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.55.
Institutional investors have recently added to or reduced their stakes in the stock. Legacy Advisors LLC purchased a new stake in Banc of California in the 1st quarter worth approximately $31,000. PNC Financial Services Group Inc. increased its holdings in Banc of California by 140.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,942 shares of the bank’s stock worth $119,000 after acquiring an additional 5,218 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Banc of California by 55,825.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,948 shares of the bank’s stock worth $124,000 after acquiring an additional 8,932 shares in the last quarter. Piedmont Investment Advisors Inc. purchased a new stake in Banc of California in the 4th quarter worth approximately $135,000. Finally, Quantamental Technologies LLC purchased a new stake in Banc of California in the 4th quarter worth approximately $146,000.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.59%. The ex-dividend date was Thursday, March 14th. Banc of California’s dividend payout ratio is 106.12%.
About Banc of California
Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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