Banc of California (NYSE:BANC) Sets New 1-Year Low at $16.58

Shares of Banc of California, Inc. (NYSE:BANCGet Rating) hit a new 52-week low on Friday . The stock traded as low as $16.58 and last traded at $16.59, with a volume of 427 shares. The stock had previously closed at $16.84.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on shares of Banc of California to $22.00 in a report on Monday, July 4th.

Banc of California Price Performance

The company has a 50 day moving average of $17.44 and a 200-day moving average of $18.13. The stock has a market capitalization of $998.67 million, a P/E ratio of 10.46 and a beta of 1.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.83.

Banc of California (NYSE:BANCGet Rating) last posted its earnings results on Thursday, July 21st. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $85.49 million for the quarter, compared to analysts’ expectations of $85.95 million. Banc of California had a return on equity of 12.37% and a net margin of 29.80%. During the same period last year, the business posted $0.32 earnings per share. Sell-side analysts predict that Banc of California, Inc. will post 2.08 EPS for the current year.

Banc of California Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 14th. Banc of California’s dividend payout ratio (DPR) is 14.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BANC. BNP Paribas Arbitrage SA grew its holdings in Banc of California by 3.4% during the fourth quarter. BNP Paribas Arbitrage SA now owns 50,784 shares of the bank’s stock worth $996,000 after acquiring an additional 1,687 shares during the period. Teacher Retirement System of Texas acquired a new position in Banc of California during the fourth quarter worth about $208,000. Qube Research & Technologies Ltd acquired a new position in Banc of California during the fourth quarter worth about $645,000. Rhumbline Advisers grew its holdings in Banc of California by 12.4% during the fourth quarter. Rhumbline Advisers now owns 157,368 shares of the bank’s stock worth $3,088,000 after acquiring an additional 17,365 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Banc of California by 96.2% during the fourth quarter. Renaissance Technologies LLC now owns 301,613 shares of the bank’s stock worth $5,918,000 after acquiring an additional 147,885 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Banc of California Company Profile

(Get Rating)

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits.

Featured Articles

Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter.