Banc of California (NYSE:BANC) Posts Earnings Results, Misses Estimates By $0.07 EPS

Banc of California (NYSE:BANCGet Free Report) issued its quarterly earnings data on Tuesday. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07), reports. Banc of California had a negative net margin of 29.10% and a positive return on equity of 2.25%. The company had revenue of $522.57 million for the quarter, compared to the consensus estimate of $296.02 million. During the same period in the previous year, the business earned $0.37 EPS.

Banc of California Price Performance

Shares of NYSE:BANC opened at $14.08 on Thursday. Banc of California has a 52-week low of $9.72 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50-day moving average price of $14.49 and a 200-day moving average price of $13.32.

Banc of California Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, March 14th. Banc of California’s payout ratio is -12.01%.

Analyst Ratings Changes

BANC has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Banc of California from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Truist Financial reaffirmed a “hold” rating and set a $16.00 price objective on shares of Banc of California in a research report on Monday, April 1st. Wedbush dropped their price objective on Banc of California from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays dropped their price objective on Banc of California from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised Banc of California from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $16.00 to $18.00 in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from, Banc of California currently has an average rating of “Hold” and a consensus target price of $16.92.

Get Our Latest Stock Report on BANC

Insider Transactions at Banc of California

In other news, Director James Andrew Barker acquired 10,000 shares of Banc of California stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the completion of the purchase, the director now directly owns 159,680 shares in the company, valued at approximately $2,101,388.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 7.37% of the company’s stock.

Banc of California Company Profile

(Get Free Report)

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.

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Earnings History for Banc of California (NYSE:BANC)

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