Banc of California Inc (BANC) to Post Q2 2019 Earnings of $0.19 Per Share, FIG Partners Forecasts
Banc of California Inc (NYSE:BANC) – FIG Partners reduced their Q2 2019 earnings estimates for shares of Banc of California in a research note issued on Wednesday, April 24th. FIG Partners analyst T. Coffey now anticipates that the bank will earn $0.19 per share for the quarter, down from their prior forecast of $0.29. FIG Partners also issued estimates for Banc of California’s Q3 2019 earnings at $0.19 EPS and Q4 2019 earnings at $0.18 EPS.
Banc of California (NYSE:BANC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.19). Banc of California had a return on equity of 7.52% and a net margin of 9.63%. The firm had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $75.56 million. During the same period last year, the company posted $0.06 earnings per share.
Shares of NYSE BANC opened at $14.42 on Thursday. Banc of California has a 1 year low of $12.22 and a 1 year high of $20.45. The firm has a market cap of $741.62 million, a P/E ratio of 23.61, a PEG ratio of 1.20 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55.
A number of large investors have recently bought and sold shares of BANC. EJF Capital LLC raised its position in Banc of California by 96.1% during the fourth quarter. EJF Capital LLC now owns 2,052,893 shares of the bank’s stock worth $27,324,000 after acquiring an additional 1,005,854 shares during the period. Shoals Capital Management LP acquired a new position in Banc of California during the fourth quarter worth $7,653,000. Dimensional Fund Advisors LP raised its position in Banc of California by 16.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,249,267 shares of the bank’s stock worth $43,248,000 after acquiring an additional 454,576 shares during the period. Pennsylvania Trust Co acquired a new position in Banc of California during the first quarter worth $18,793,000. Finally, BlackRock Inc. raised its position in Banc of California by 3.9% during the third quarter. BlackRock Inc. now owns 6,237,726 shares of the bank’s stock worth $117,893,000 after acquiring an additional 233,796 shares during the period.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, March 14th. Banc of California’s dividend payout ratio is presently 106.12%.
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 offers deposit products, including checking, savings, money market, retirement, and interest and noninterest-bearing demand accounts, as well as certificates of deposits.
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