Banc of California, Inc. (NYSE:BANC) Shareholders to Receive $0.12 Quarterly Dividend

by · The Markets Daily

Banc of California, Inc. (NYSE:BANC – Get Free Report) declared a quarterly dividend on Friday, November 6th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.12 per share by the bank on Monday, January 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, December 15th.

Banc of California has raised its dividend by an average of 0.1% per year over the last three years. Banc of California has a payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banc of California to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.1%.

Banc of California Stock Performance

Shares of BANC stock traded up $0.03 on Friday, hitting $17.98. 1,427,686 shares of the stock were exchanged, compared to its average volume of 2,831,434. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.85 billion, a PE ratio of -52.90 and a beta of 0.74. Banc of California has a one year low of $16.12 and a one year high of $21.93. The firm’s 50 day moving average is $17.99 and its two-hundred day moving average is $18.91.

Banc of California (NYSE:BANC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $303.07 million for the quarter, compared to analysts’ expectations of $306.27 million. Banc of California had a positive return on equity of 8.51% and a negative net margin of 0.58%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts expect that Banc of California will post 1.70 earnings per share for the current fiscal year.

About Banc of California

(Get Free Report)

Banc of California, Inc is a bank holding company whose principal subsidiary, Banc of California, N.A., provides banking and financial services to businesses, professionals, nonprofit organizations and individuals. The bank operates as a full-service commercial bank, offering deposit accounts, commercial and consumer loans, home lending, treasury management, cash-management services and online and mobile banking.

The company primarily serves customers throughout California, with operations and relationships extending into select western markets.

Further Reading