Intel stock spikes after report of possible US government stake
LOS ANGELES - Banc of California, Inc. (NYSE:BANC) announced Friday that its Board of Directors has declared a quarterly cash dividend of $0.10 per share on its outstanding common stock, payable October 1, 2025, to stockholders of record as of September 15, 2025. The current dividend yield stands at 2.77%, with the stock trading at $14.42. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value.
The bank holding company also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F. This dividend will be payable September 1, 2025, to stockholders of record as of August 21, 2025. The Series F depositary shares trade on the New York Stock Exchange under the symbol Banc/PF.
Banc of California maintains a Dividend Reinvestment Plan (DRIP) that allows common stockholders to automatically acquire common shares at a 3% discount from the applicable market price. All registered common stockholders with holdings maintained at the company’s transfer agent are eligible to participate in the program.
With over $34 billion in assets, Banc of California describes itself as the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California. The bank operates 80 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina.
This information is based on a press release statement from the company.
In other recent news, Banc of California has announced the successful election of all twelve director nominees at its 2025 Annual Meeting of Stockholders. The directors, including James A. "Conan" Barker and Mary A. Curran, will serve one-year terms following strong support from stockholders. Additionally, Jefferies has initiated coverage on Banc of California shares with a Buy rating and a price target of $18. This decision was influenced by the successful integration of the recent merger with PacWest. Jefferies forecasts Banc of California’s earnings per share to grow significantly faster than its peers, with expected growth rates of 53% for 2025, 38% for 2026, and 15% for 2027. These projections compare favorably against peer median growth rates of 10%, 13%, and 9% for the same years. The company’s recent SEC 8-K filing also detailed leadership changes within its board of directors.
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