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

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.12 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th.

Banc of California has raised its dividend by an average of 0.1%per year over the last three years. Banc of California has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banc of California to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.9%.

Banc of California Stock Performance

Shares of BANC stock traded down $0.12 during mid-day trading on Friday, reaching $19.05. 3,187,956 shares of the company’s stock traded hands, compared to its average volume of 2,928,380. Banc of California has a 12 month low of $13.24 and a 12 month high of $21.61. The firm has a 50 day moving average price of $18.00 and a two-hundred day moving average price of $18.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $2.86 billion, a PE ratio of 14.55 and a beta of 0.75.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Banc of California had a net margin of 13.58% and a return on equity of 9.25%. The firm had revenue of $286.95 million during the quarter, compared to the consensus estimate of $291.28 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts forecast that Banc of California will post 1.72 EPS for the current 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.