Earnings results for Banc of California (NYSE:BANC)
Banc of California, Inc. is expected* to report earnings on 01/21/2021 before market open. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.19. The reported EPS for the same quarter last year was $0.2.
Banc of California last released its earnings data on October 22nd, 2020. The bank reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company earned $59.80 million during the quarter, compared to the consensus estimate of $61.98 million. Its quarterly revenue was down 3.7% compared to the same quarter last year. Banc of California has generated $0.79 earnings per share over the last year. Banc of California has confirmed that its next quarterly earnings report will be published on Thursday, January 21st, 2021.
Analyst Opinion on Banc of California (NYSE:BANC)
4 Wall Street analysts have issued ratings and price targets for Banc of California in the last 12 months. Their average twelve-month price target is $15.38, predicting that the stock has a possible downside of 14.35%. The high price target for BANC is $21.00 and the low price target for BANC is $13.00. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Banc of California has received a consensus rating of Buy. The company’s average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $15.38, Banc of California has a forecasted downside of 14.3% from its current price of $17.95. Banc of California has only been the subject of 2 research reports in the past 90 days.
Dividend Strength: Banc of California (NYSE:BANC)
Banc of California has a dividend yield of 1.35%, which is in the bottom 25% of all stocks that pay dividends. Banc of California has only been increasing its dividend for 1 years. The dividend payout ratio of Banc of California is 30.38%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Banc of California will have a dividend payout ratio of 29.63% next year. This indicates that Banc of California will be able to sustain or increase its dividend.
Insiders buying/selling: Banc of California (NYSE:BANC)
In the past three months, Banc of California insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $165,946.00 in company stock and sold $0.00 in company stock. Only 10.87% of the stock of Banc of California is held by insiders. 87.42% of the stock of Banc of California is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Banc of California (NYSE:BANC
Earnings for Banc of California are expected to grow by 252.17% in the coming year, from $0.23 to $0.81 per share. The P/E ratio of Banc of California is -94.47, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Banc of California is -94.47, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Banc of California has a PEG Ratio of 2.16. PEG Ratios above 1 indicate that a company could be overvalued. Banc of California has a P/B Ratio of 1.27. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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