Banc of California (NYSE:BANC – Get Free Report) posted its quarterly earnings results on Tuesday. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07), Briefing.com reports. The business had revenue of $522.57 million for the quarter, compared to the consensus estimate of $296.02 million. Banc of California had a positive return on equity of 2.25% and a negative net margin of 29.10%. During the same period last year, the firm earned $0.37 earnings per share.
Banc of California Trading Up 0.9 %
Banc of California stock opened at $14.08 on Thursday. Banc of California has a twelve month low of $9.72 and a twelve month high of $16.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $14.49 and a 200-day moving average of $13.32.
Banc of California Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued 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 dividend payout ratio (DPR) is presently -12.01%.
Analyst Ratings Changes
Insider Activity
In related news, Director Richard J. Lashley purchased 10,000 shares of Banc of California stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $21.40 per share, for a total transaction of $214,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $214,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.37% of the company’s stock.
Banc of California Company Profile
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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