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

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.12 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Banc of California has increased its dividend payment by an average of 0.1%annually 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. Equities analysts expect Banc of California to earn $2.15 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 22.3%.

Banc of California Stock Performance

Shares of BANC stock opened at $18.72 on Friday. The stock has a market capitalization of $2.89 billion, a P/E ratio of -44.58 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $20.13 and its 200 day moving average is $19.24. Banc of California has a 12 month low of $14.35 and a 12 month high of $21.93.

Banc of California (NYSE:BANC) last released its quarterly earnings data on Wednesday, July 29th. The bank reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.01). The business had revenue of $16.41 million during the quarter, compared to analysts’ expectations of $295.32 million. Banc of California had a negative net margin of 1.44% and a positive return on equity of 7.98%. The firm’s quarterly revenue was down 94.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, sell-side analysts anticipate that Banc of California will post 1.68 earnings per share 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.