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

Banc of California, Inc. (NYSE:BANC) declared a quarterly dividend on Friday, August 7th. Investors of record on Tuesday, September 15th will be paid 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 yield of 2.6%. The ex-dividend date is Tuesday, September 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 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 Stock Performance

Shares of BANC stock opened at $18.72 on Friday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -44.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.89. Banc of California has a one year low of $14.35 and a one year high of $21.93. The company’s 50-day moving average is $20.13 and its 200 day moving average is $19.24.

Banc of California (NYSE:BANC) last issued its earnings results on Wednesday, July 29th. The bank reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($2.01). The firm had revenue of $16.41 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 94.0% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. Sell-side analysts expect that Banc of California will post 1.68 EPS for the current fiscal year.

Banc of California Company Profile

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.