Banc of California, Inc. Announces Quarterly Dividend of $0.10 (NYSE:BANC)

Banc of California, Inc. (NYSE:BANC) announced a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.10 per share by the bank on Friday, January 2nd. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, December 15th.

Banc of California has increased its dividend payment by an average of 0.1%annually over the last three years. Banc of California has a dividend payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banc of California to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 24.2%.

Banc of California Price Performance

Banc of California stock traded up $0.02 during trading hours on Thursday, hitting $17.08. 1,901,925 shares of the stock were exchanged, compared to its average volume of 2,615,441. 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 stock has a market capitalization of $2.52 billion, a P/E ratio of 16.42 and a beta of 0.75. Banc of California has a 12 month low of $11.52 and a 12 month high of $18.24. The business’s 50-day moving average is $16.84 and its two-hundred day moving average is $15.25.

Banc of California (NYSE:BANC) last issued its quarterly earnings data on Monday, May 13th. The bank reported $1.03 earnings per share for the quarter. Banc of California had a net margin of 11.49% and a return on equity of 8.00%. The firm had revenue of $315.66 million for the quarter. Equities research analysts expect that Banc of California will post 1.31 EPS for the current fiscal year.

About Banc of California

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.