Banc of California, Inc. (BANC) To Go Ex-Dividend on September 15th

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.12 per share by the bank on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Banc of California has increased 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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banc of California to earn $2.15 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 22.3%.

Banc of California Price Performance

NYSE:BANC opened at $18.54 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. Banc of California has a 52 week low of $15.33 and a 52 week high of $21.93. The stock’s 50-day moving average price is $19.60 and its 200-day moving average price is $19.00. The stock has a market capitalization of $2.94 billion, a PE ratio of -44.13 and a beta of 0.73.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Wednesday, July 29th. The bank reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.01). The business had revenue of $16.41 million during the quarter, compared to analyst estimates of $295.32 million. Banc of California had a positive return on equity of 7.98% and a negative net margin of 1.44%.The business’s revenue for the quarter was down 94.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. As a group, equities analysts expect that Banc of California will post 1.68 EPS for the current fiscal year.

Banc of California Company Profile

Banc of California, Inc is the holding company for Banc of California, a relationship-focused financial institution headquartered in California. The bank provides banking and financial services to businesses, entrepreneurs, professionals, individuals and families, with a focus on supporting the state’s local communities and economy.

Its offerings include commercial and industrial lending, commercial real estate financing, residential mortgage lending, consumer loans, business and personal deposit accounts, treasury management, online and mobile banking, and other cash-management services.