Banc of California, Inc. (NYSE:BANC) is expected to report third quarter earnings results, before market open, on Thursday 22nd October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.15 per share.
Looking ahead, the full year loss are expected at $ 0.35 per share on the revenues of $ 228.30 million.
Previous Quarter Performance
Banc of California, Inc. announced loss for the second quarter of $ 0.44 per share, from the revenue of $ 55.31 million. The quarterly revenues down 18.18 percent compared with the same quarter last year. Street analysts expected Banc of California, Inc. to report loss of $ 0.39 per share on revenue of $ 55.34 million for the second quarter. The bottom line results missed street analysts by $ 0.05 or 12.82 percent, at the same time, top line results fell short of analysts by $ 0.03 million or 0.05 percent.
Stock Performance
Shares of Banc of California, Inc. traded up $ 0.21 or 1.85 percent on Wednesday, reaching $ 11.56 with volume of 28.60 thousand shares. The stock opened down for the day at $ 11.34, after closing the previous day trading at $ 11.35.
According to the previous trading day, closing price of $ 11.35, representing a 76.24 % increase from the 52 week low of $ 6.44 and a 40.64 % decrease over the 52 week high of $ 19.12.
The company has a market capital of $ 580.68 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 1st October 2020, maintained by Piper Sandler at Overweight rating, with $ 14.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.06 per share on August 12, 2020. The dividend were payable on October 1, 2020 to holders of record as of the close of business on September 15, 2020 and ex-dividend date on September 14, 2020.
Conference Call
Banc of California, Inc. will be hosting a conference call at 1:00 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.bancofcal.com
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 deposit.
