Banc of California, Inc. (NYSE:BANC) Announces Quarterly Dividend of $0.12

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Thursday, February 5th. Investors of record on Monday, March 16th will be given a dividend of 0.12 per share by the bank on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 16th. This is a 20.0% increase from Banc of California’s previous quarterly dividend of $0.10.

Banc of California has raised its dividend payment by an average of 0.1%per year over the last three years. Banc of California has a payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banc of California to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 24.2%.

Banc of California Price Performance

Shares of BANC opened at $20.18 on Friday. The company has a 50 day moving average of $19.84 and a two-hundred day moving average of $17.63. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.31. Banc of California has a twelve month low of $11.52 and a twelve month high of $21.61. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 17.10 and a beta of 0.72.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $292.93 million during the quarter, compared to analysts’ expectations of $288.41 million. Banc of California had a return on equity of 8.66% and a net margin of 12.59%.During the same period last year, the business posted $0.28 earnings per share. As a group, analysts predict that Banc of California will post 1.31 earnings per share for the current fiscal year.

About Banc of California

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.