Banc of California, Inc. Plans Quarterly Dividend of $0.12 (NYSE:BANC)

Banc of California, Inc. (NYSE:BANC) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Monday, June 15th will be given a dividend of 0.12 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 15th.

Banc of California has raised its dividend payment by an average of 0.1%annually over the last three years. Banc of California has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banc of California to earn $2.10 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 22.9%.

Banc of California Stock Performance

BANC stock opened at $19.05 on Friday. The company has a market cap of $2.86 billion, a P/E ratio of 14.55 and a beta of 0.75. Banc of California has a 1 year low of $13.24 and a 1 year high of $21.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s fifty day moving average price is $18.00 and its 200-day moving average price is $18.67.

Banc of California (NYSE:BANC) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Banc of California had a return on equity of 9.25% and a net margin of 13.58%.The firm had revenue of $286.95 million for the quarter, compared to the consensus estimate of $291.28 million. During the same period last year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Banc of California will post 1.72 earnings per share for the current year.

Institutional Investors Weigh In On Banc of California

Institutional investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. purchased a new stake in Banc of California in the 3rd quarter worth $912,000. Polar Asset Management Partners Inc. purchased a new stake in Banc of California in the 3rd quarter worth $2,054,000. ARGA Investment Management LP purchased a new stake in Banc of California in the 3rd quarter worth $1,730,000. Y Intercept Hong Kong Ltd increased its stake in Banc of California by 308.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 70,856 shares of the bank’s stock worth $1,173,000 after buying an additional 53,506 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Banc of California by 445.0% in the 4th quarter. SG Americas Securities LLC now owns 144,758 shares of the bank’s stock worth $2,792,000 after buying an additional 118,198 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

About Banc of California

Banc of California, N.A. is a full-service commercial bank headquartered in Santa Ana, California, offering a broad spectrum of banking products and services to corporate and individual customers. The bank focuses on serving middle-market businesses, professional service firms, real estate investors and developers, and entrepreneurs throughout California. Its core offerings include deposit accounts, treasury management services, commercial real estate lending, equipment finance, lines of credit and Small Business Administration lending, complemented by cash management and online banking solutions.

Operating a network of branches and lending offices concentrated in both Southern and Northern California, Banc of California seeks to support local businesses and communities with personalized service and regional expertise.