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Banc of California, Inc.

Banc of California, Inc. operates as the bank holding company for Banc of California that provides banking and treasury management services in the United States. The company offers deposit products, including checking, savings, money market, demand, and retirement accounts, as well as time deposits, certificates of deposit, and safe deposit boxes. It also provides real estate loans, such as commercial real estate mortgage, multi-family, other residential real estate mortgage, and real estate construction and land loans; commercial loans and leases comprising lender finance, equipment finance, other asset-based, venture capital, secured business, warehouse, and other lending loans; and consumer loans. In addition, the company offers electronic payment services for commercial clients, such as merchant acquiring and card issuing services; automated bill payments, cash and treasury management, master demand accounts, foreign exchange, interest rate swaps, card payment services, remote and mobile deposit capture, automated clearing house origination, wire transfer, and direct deposit; and investment management services. It serves small and middle-market businesses, venture capital and private equity firms, non-profit organizations, business owners, entrepreneurs, professionals, and high-net worth individuals. The company offers its products and services through branches located throughout California; Denver, Colorado; and Durham, North Carolina, as well as through regional offices in the United States. Banc of California, Inc. was founded in 1941 and is headquartered in Los Angeles, California.

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BANC2

Regional Banks Q2 Earnings: City Holding Beats, Banc of California Misses

City Holding reported second-quarter revenue of $81.73 million, up 3.8% year over year and 1.3% above analyst expectations, while its stock has risen 5.9% since the report to $142.92. Among the 95 regional banks tracked, OFG Bancorp was the best performer with revenue of $190.3 million, up 4.4% and beating estimates by 3.9%, while Banc of California was the weakest with revenue of $285.7 million, up 4.7% but missing estimates by 3.1% and seeing its stock fall 10.4% to $18.98. Wintrust Financial reported revenue of $739.5 million, up 9.9% and in line with expectations, but its stock is down 6.3% to $153.43, and FB Financial reported revenue of $175.9 million, up 27.5% but 0.7% below estimates, with its stock up 5.2% to $59.50.
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BANC

Banc of California declares $0.12 quarterly dividend

Banc of California declared a quarterly dividend of $0.12 per share, in line with the previous payout. The dividend is payable on October 1 to shareholders of record as of September 15, with the ex-dividend date also set for September 15. The forward yield is 2.53%.
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BANC

66-Year-Old With $1.3 Million: 3 Hidden Dividend Gems to Buy

A 66-year-old with $1.3 million seeks sustainable dividend income from overlooked mid-caps. Nexstar Media Group yields 4.54% with free cash flow covering its dividend 5.3 times despite a high GAAP payout ratio, though post-TEGNA debt rose to $12.2 billion. Amdocs trades at a 10 times price-to-earnings ratio with a 4.4% yield after a 42.69% drawdown, and its free cash flow covers the dividend 2.87 times following a 14th consecutive annual raise. Banc of California raised its quarterly dividend 20% to $0.12 per share, supported by $255.6 million in recovered operating cash flow and a conservative 32% earnings payout ratio.
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