Shares of Banc of California (NYSE:BANC) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $21.60.
A number of equities research analysts have weighed in on BANC shares. Zacks Investment Research raised Banc of California from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, January 1st. Bank of America downgraded Banc of California from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Friday, April 6th. FIG Partners downgraded Banc of California from a “market perform” rating to an “underperform” rating in a report on Friday, January 26th. ValuEngine raised Banc of California from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Piper Jaffray started coverage on Banc of California in a report on Thursday, December 21st. They issued an “overweight” rating and a $26.00 target price on the stock.
In other news, insider John A. Bogler purchased 20,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $19.30 per share, for a total transaction of $386,000.00. Following the purchase, the insider now owns 37,500 shares of the company’s stock, valued at $723,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.89% of the stock is currently owned by corporate insiders.
NYSE:BANC traded up $0.05 during trading hours on Thursday, reaching $18.80. 623,520 shares of the company were exchanged, compared to its average volume of 664,063. The company has a market capitalization of $955.00, a P/E ratio of 22.93, a P/E/G ratio of 2.54 and a beta of 0.88. Banc of California has a 1-year low of $17.10 and a 1-year high of $23.40. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.96 and a quick ratio of 0.95.
Banc of California (NYSE:BANC) last issued its earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. The firm had revenue of $78.87 million for the quarter, compared to the consensus estimate of $84.02 million. Banc of California had a return on equity of 9.93% and a net margin of 13.28%. The company’s revenue was down 31.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. sell-side analysts anticipate that Banc of California will post 0.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, March 14th. Banc of California’s payout ratio is 63.41%.
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Banc of California Company Profile
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's deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration (SBA) guaranteed business loans, construction and renovation loans, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.
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