Zacks: Brokerages Anticipate Banc of California, Inc. (NYSE:BANC) Will Post Earnings of $0.44 Per Share

Equities research analysts expect that Banc of California, Inc. (NYSE:BANCGet Rating) will announce earnings per share of $0.44 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Banc of California’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.43. Banc of California reported earnings per share of $0.32 during the same quarter last year, which indicates a positive year-over-year growth rate of 37.5%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Banc of California will report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $2.14. For the next financial year, analysts forecast that the firm will post earnings of $2.08 per share, with EPS estimates ranging from $1.85 to $2.30. Zacks’ EPS averages are an average based on a survey of analysts that cover Banc of California.

Banc of California (NYSE:BANCGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.29. Banc of California had a net margin of 29.44% and a return on equity of 12.00%. The business had revenue of $82.35 million during the quarter, compared to analysts’ expectations of $79.90 million. During the same quarter in the prior year, the company posted $0.25 EPS.

Several brokerages recently issued reports on BANC. Zacks Investment Research lowered shares of Banc of California from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 10th. StockNews.com lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Stephens raised their price target on shares of Banc of California from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, April 25th. TheStreet upgraded shares of Banc of California from a “c+” rating to a “b” rating in a research note on Friday, April 22nd. Finally, Raymond James cut shares of Banc of California from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.33.

Several institutional investors and hedge funds have recently made changes to their positions in BANC. BlackRock Inc. increased its position in Banc of California by 0.4% during the first quarter. BlackRock Inc. now owns 8,829,206 shares of the bank’s stock worth $170,933,000 after buying an additional 38,558 shares during the period. Vanguard Group Inc. boosted its position in shares of Banc of California by 1.8% in the first quarter. Vanguard Group Inc. now owns 3,614,022 shares of the bank’s stock worth $69,967,000 after buying an additional 62,162 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Banc of California by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,475,949 shares of the bank’s stock worth $68,198,000 after buying an additional 253,321 shares during the period. Patriot Financial Partners GP LP boosted its holdings in Banc of California by 136.3% in the fourth quarter. Patriot Financial Partners GP LP now owns 3,452,585 shares of the bank’s stock valued at $67,740,000 after purchasing an additional 1,991,232 shares during the last quarter. Finally, State Street Corp boosted its holdings in Banc of California by 11.9% in the fourth quarter. State Street Corp now owns 2,499,487 shares of the bank’s stock valued at $49,187,000 after purchasing an additional 266,482 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

NYSE BANC traded up $0.40 during trading on Thursday, hitting $19.16. The company had a trading volume of 12,644 shares, compared to its average volume of 279,763. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Banc of California has a one year low of $15.40 and a one year high of $22.09. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 12.56 and a beta of 1.44. The company’s fifty day moving average is $18.61 and its 200-day moving average is $19.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, June 14th. Banc of California’s dividend payout ratio (DPR) is presently 15.79%.

Banc of California Company Profile (Get Rating)

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-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.

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