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

Banc of California, Inc. (NYSE:BANC) declared a quarterly dividend on Thursday, November 6th. Investors of record on Monday, December 15th will be given 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 is Monday, December 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 payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.1%

Shares of BANC stock opened at $17.08 on Friday. Banc of California has a fifty-two week low of $11.52 and a fifty-two week high of $18.24. 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’s fifty day moving average is $16.85 and its two-hundred day moving average is $15.26. The firm has a market capitalization of $2.52 billion, a P/E ratio of 16.42 and a beta of 0.75.

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

Insider Buying and Selling

In other Banc of California news, insider Hamid Hussain sold 20,000 shares of Banc of California stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.59, for a total value of $331,800.00. Following the completion of the transaction, the insider directly owned 66,444 shares of the company’s stock, valued at $1,102,305.96. The trade was a 23.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Banc of California by 1.6% in the third quarter. Amalgamated Bank now owns 37,460 shares of the bank’s stock valued at $620,000 after purchasing an additional 585 shares in the last quarter. Crescent Grove Advisors LLC boosted its position in Banc of California by 0.7% in the 2nd quarter. Crescent Grove Advisors LLC now owns 100,428 shares of the bank’s stock valued at $1,421,000 after buying an additional 706 shares during the period. CWM LLC grew its stake in shares of Banc of California by 9.1% in the second quarter. CWM LLC now owns 8,783 shares of the bank’s stock worth $123,000 after acquiring an additional 734 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Banc of California by 22.2% during the second quarter. GAMMA Investing LLC now owns 4,201 shares of the bank’s stock worth $59,000 after acquiring an additional 762 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Banc of California by 7.7% in the third quarter. PNC Financial Services Group Inc. now owns 10,804 shares of the bank’s stock valued at $179,000 after purchasing an additional 777 shares during the period. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Banc of California Company Profile

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.