Equities analysts predict that Banc of California Inc (NYSE:BANC) will announce earnings per share of $0.19 for the current quarter, according to Zacks. Six analysts have issued estimates for Banc of California’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.22. Banc of California reported earnings of $0.16 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.8%. The firm is expected to report its next earnings results before the market opens on Thursday, July 25th.
On average, analysts expect that Banc of California will report full-year earnings of $0.65 per share for the current fiscal year, with EPS estimates ranging from $0.53 to $0.73. For the next fiscal year, analysts expect that the firm will report earnings of $0.91 per share, with EPS estimates ranging from $0.62 to $1.22. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Banc of California.
Banc of California (NYSE:BANC) last released its earnings results on Tuesday, April 23rd. The bank reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.19). Banc of California had a return on equity of 7.52% and a net margin of 9.63%. The company had revenue of $74.10 million for the quarter, compared to the consensus estimate of $75.56 million. During the same quarter in the previous year, the company posted $0.06 EPS.
Separately, Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.75.
BANC traded up $0.12 on Thursday, hitting $13.80. 716,085 shares of the company were exchanged, compared to its average volume of 395,304. Banc of California has a 12 month low of $12.22 and a 12 month high of $20.45. The company has a market cap of $710.80 million, a P/E ratio of 28.16, a PEG ratio of 1.47 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.58. The company has a fifty day moving average price of $13.81.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, June 14th. This represents a $0.24 annualized dividend and a yield of 1.74%. Banc of California’s payout ratio is presently 48.98%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in Banc of California by 140.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,942 shares of the bank’s stock worth $119,000 after acquiring an additional 5,218 shares in the last quarter. BlackRock Inc. increased its position in Banc of California by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,444,776 shares of the bank’s stock worth $85,781,000 after buying an additional 207,050 shares during the last quarter. Sippican Capital Advisors acquired a new position in Banc of California during the first quarter worth approximately $242,000. Texas Permanent School Fund increased its position in Banc of California by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 27,909 shares of the bank’s stock worth $371,000 after buying an additional 1,071 shares during the last quarter. Finally, United Services Automobile Association increased its position in Banc of California by 8.4% during the fourth quarter. United Services Automobile Association now owns 656,363 shares of the bank’s stock worth $8,736,000 after buying an additional 50,990 shares during the last quarter. Institutional investors and hedge funds own 99.28% of the company’s stock.
About Banc of California
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 and noninterest-bearing demand accounts, as well as certificates of deposits.
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