Banc of California (NYSE:BANC – Get Free Report) announced its quarterly earnings results on Tuesday. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07), Briefing.com reports. Banc of California had a positive return on equity of 1.14% and a negative net margin of 44.04%. The firm had revenue of $522.57 million during the quarter, compared to analysts’ expectations of $296.02 million. During the same period in the previous year, the company posted $0.37 earnings per share.
Banc of California Trading Down 1.6 %
Shares of Banc of California stock traded down $0.23 on Wednesday, hitting $13.72. The stock had a trading volume of 1,416,467 shares, compared to its average volume of 2,446,919. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Banc of California has a one year low of $9.72 and a one year high of $16.08. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. The stock’s 50-day simple moving average is $14.49 and its two-hundred day simple moving average is $13.32.
Banc of California Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 14th. Banc of California’s payout ratio is currently -12.66%.
Wall Street Analysts Forecast Growth
Get Our Latest Report on Banc of California
Insider Transactions at Banc of California
In other news, Director James Andrew Barker bought 10,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $13.16 per share, for a total transaction of $131,600.00. Following the completion of the acquisition, the director now owns 159,680 shares of the company’s stock, valued at $2,101,388.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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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