Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Monday, August 21st, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.13 per share by the bank on Monday, October 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, September 14th.

Banc of California has a payout ratio of 64.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Banc of California to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 41.9%.

Shares of Banc of California (BANC) opened at 17.15 on Friday. The stock has a 50 day moving average of $19.32 and a 200-day moving average of $20.50. The company has a market capitalization of $820.56 million, a price-to-earnings ratio of 11.47 and a beta of 0.97. Banc of California has a 1-year low of $10.93 and a 1-year high of $23.25.

Banc of California (NYSE:BANC) last issued its earnings results on Wednesday, July 26th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by $0.04. Banc of California had a return on equity of 14.44% and a net margin of 17.12%. The firm had revenue of $81.21 million during the quarter, compared to analysts’ expectations of $97.94 million. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts forecast that Banc of California will post $0.77 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Banc of California, Inc. (BANC) to Issue Quarterly Dividend of $0.13 on October 2nd” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at

Several analysts recently weighed in on the stock. BidaskClub cut shares of Banc of California from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research cut shares of Banc of California from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $20.00 price target on shares of Banc of California and gave the company a “hold” rating in a report on Monday, August 28th. Finally, ValuEngine cut shares of Banc of California from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.00.

Banc of California Company Profile

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

Dividend History for Banc of California (NYSE:BANC)

Receive News & Stock Ratings for Banc of California Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California Inc. and related stocks with our FREE daily email newsletter.