Q3 2020 EPS Estimates for Banc of California Inc Cut by Analyst (NYSE:BANC)

Banc of California Inc (NYSE:BANC) – Stock analysts at B. Riley reduced their Q3 2020 earnings per share (EPS) estimates for Banc of California in a research report issued on Friday, July 26th. B. Riley analyst S. Moss now forecasts that the bank will earn $0.17 per share for the quarter, down from their previous forecast of $0.18. B. Riley also issued estimates for Banc of California’s Q4 2020 earnings at $0.18 EPS.

Separately, Zacks Investment Research lowered Green Plains Partners from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.75.

BANC opened at $15.58 on Monday. The firm has a market cap of $773.34 million, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.60 and a beta of 1.27. The firm has a 50 day simple moving average of $14.05. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.19 and a quick ratio of 1.10. Banc of California has a 12-month low of $12.22 and a 12-month high of $20.45.

Banc of California (NYSE:BANC) last released its earnings results on Thursday, July 25th. The bank reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $62.49 million for the quarter, compared to analyst estimates of $73.09 million. Banc of California had a return on equity of 7.94% and a net margin of 10.28%. During the same quarter last year, the firm posted $0.16 EPS.

Large investors have recently made changes to their positions in the company. Aperio Group LLC acquired a new position in shares of Banc of California in the second quarter valued at approximately $261,000. Foundry Partners LLC grew its position in shares of Banc of California by 726.1% in the second quarter. Foundry Partners LLC now owns 171,995 shares of the bank’s stock valued at $2,403,000 after purchasing an additional 151,175 shares during the last quarter. Sippican Capital Advisors grew its position in shares of Banc of California by 92.7% in the second quarter. Sippican Capital Advisors now owns 33,750 shares of the bank’s stock valued at $471,000 after purchasing an additional 16,235 shares during the last quarter. Hennessy Advisors Inc. grew its position in shares of Banc of California by 14.3% in the second quarter. Hennessy Advisors Inc. now owns 400,000 shares of the bank’s stock valued at $5,588,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Banc of California in the first quarter valued at approximately $248,000. 98.56% of the stock is currently owned by institutional investors.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, June 14th. Banc of California’s payout ratio is presently 48.98%.

Banc of California Company Profile

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 and noninterest-bearing demand accounts, as well as certificates of deposits.

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Earnings History and Estimates for Banc of California (NYSE:BANC)

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