Banc of California Inc (NYSE:BANC) Expected to Post Earnings of $0.19 Per Share

Wall Street brokerages predict that Banc of California Inc (NYSE:BANC) will announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Banc of California’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.22. Banc of California posted earnings per share of $0.16 during the same quarter last year, which indicates a positive year-over-year growth rate of 18.8%. The business is scheduled to announce its next earnings report on Thursday, July 25th.

On average, analysts expect that Banc of California will report full-year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.58 to $0.73. For the next fiscal year, analysts forecast that the business will post earnings of $0.92 per share, with EPS estimates ranging from $0.65 to $1.22. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Banc of California.

Banc of California (NYSE:BANC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.05 EPS for the quarter, missing the 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 analyst estimates of $75.56 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share.

BANC has been the subject of several research reports. Zacks Investment Research upgraded shares of Banc of California from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 26th. DA Davidson lowered shares of Banc of California from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Banc of California presently has an average rating of “Hold” and a consensus price target of $17.75.

NYSE BANC traded up $0.04 on Tuesday, hitting $13.48. 342,500 shares of the company’s stock traded hands, compared to its average volume of 406,088. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.58. Banc of California has a 1-year low of $12.22 and a 1-year high of $20.45. The stock’s 50-day moving average price is $13.84. The firm has a market cap of $695.04 million, a price-to-earnings ratio of 27.51, a PEG ratio of 1.68 and a beta of 1.29.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, June 14th. Banc of California’s dividend payout ratio (DPR) is 48.98%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Banc of California by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,444,776 shares of the bank’s stock valued at $85,781,000 after purchasing an additional 207,050 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Banc of California by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,249,267 shares of the bank’s stock valued at $43,248,000 after purchasing an additional 454,576 shares in the last quarter. Ranger Investment Management L.P. increased its holdings in shares of Banc of California by 2.8% during the 4th quarter. Ranger Investment Management L.P. now owns 2,305,987 shares of the bank’s stock valued at $30,693,000 after purchasing an additional 62,516 shares in the last quarter. EJF Capital LLC increased its holdings in shares of Banc of California by 96.1% during the 4th quarter. EJF Capital LLC now owns 2,052,893 shares of the bank’s stock valued at $27,324,000 after purchasing an additional 1,005,854 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its holdings in shares of Banc of California by 18.3% during the 4th quarter. Investment Counselors of Maryland LLC now owns 1,135,830 shares of the bank’s stock valued at $15,118,000 after purchasing an additional 175,736 shares in the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Banc of California (NYSE:BANC)

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