Banc of California (NYSE:BANC – Get Free Report) posted its quarterly earnings results on Tuesday. The bank reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.09), Zacks reports. Banc of California had a positive return on equity of 2.27% and a negative net margin of 21.99%. The business had revenue of $492.38 million during the quarter, compared to analysts’ expectations of $271.42 million. During the same period in the prior year, the business posted $0.32 earnings per share.
Banc of California Stock Performance
NYSE:BANC traded up $0.53 on Thursday, reaching $13.48. 3,085,233 shares of the company’s stock were exchanged, compared to its average volume of 2,427,358. Banc of California has a 52-week low of $9.96 and a 52-week high of $15.54. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $13.37 and a 200-day moving average of $13.84.
Banc of California Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.97%. Banc of California’s dividend payout ratio is presently -12.01%.
Analysts Set New Price Targets
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About Banc of California
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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