Banc of California (BANC) Set to Announce Quarterly Earnings on Thursday


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Banc of California (NYSE:BANC) is set to issue its quarterly earnings data before the market opens on Thursday, January 21st. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Banc of California (NYSE:BANC) last posted its earnings results on Thursday, October 22nd. The bank reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Banc of California had a return on equity of 3.88% and a net margin of 1.62%. The business had revenue of $59.80 million during the quarter, compared to analyst estimates of $61.98 million. During the same quarter last year, the firm earned ($0.45) earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect Banc of California to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BANC stock opened at $17.32 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 0.97. Banc of California has a 1 year low of $6.44 and a 1 year high of $19.12. The firm has a market cap of $870.16 million, a P/E ratio of -91.16, a price-to-earnings-growth ratio of 2.11 and a beta of 1.85. The stock has a 50-day simple moving average of $14.99 and a 200-day simple moving average of $12.18.

The business also recently announced a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th were paid a $0.06 dividend. The ex-dividend date was Monday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.39%. Banc of California’s dividend payout ratio (DPR) is currently 30.38%.

BANC has been the subject of a number of recent research reports. B. Riley increased their target price on Banc of California from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 7th. Piper Sandler raised their price objective on Banc of California from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. Finally, Zacks Investment Research upgraded Banc of California from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, October 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.10.

In other news, CEO Jared M. Wolff bought 10,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was bought at an average price of $11.50 per share, for a total transaction of $115,000.00. Following the transaction, the chief executive officer now owns 168,475 shares in the company, valued at $1,937,462.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary A. Curran bought 4,200 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was purchased at an average price of $12.13 per share, with a total value of $50,946.00. Following the transaction, the director now owns 9,161 shares in the company, valued at approximately $111,122.93. The disclosure for this purchase can be found here. 10.87% of the stock is currently owned by company insiders.

Banc of California Company Profile

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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Earnings History for Banc of California (NYSE:BANC)

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