Banc of California (NYSE:BANC – Get Free Report) released its earnings results on Tuesday. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.07), Briefing.com reports. Banc of California had a negative net margin of 29.10% and a positive return on equity of 2.25%. The firm had revenue of $522.57 million during the quarter, compared to analyst estimates of $296.02 million. During the same period last year, the business posted $0.37 earnings per share.
Banc of California Stock Performance
Banc of California stock traded down $0.35 during trading hours on Thursday, reaching $13.74. 156,730 shares of the company’s stock were exchanged, compared to its average volume of 2,447,540. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day simple moving average is $14.49 and its 200 day simple moving average is $13.32. Banc of California has a twelve month low of $9.72 and a twelve month high of $16.08.
Banc of California Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.91%. Banc of California’s payout ratio is -12.01%.
Wall Street Analyst Weigh In
Read Our Latest Report on Banc of California
Insiders Place Their Bets
In other Banc of California news, Director James Andrew Barker purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was purchased at an average cost of $13.16 per share, for a total transaction of $131,600.00. Following the acquisition, the director now owns 159,680 shares in the company, valued at approximately $2,101,388.80. The acquisition was disclosed in a legal filing with the SEC, which is available 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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