For the quarter ended December 2023, Banc of California (BANC - Free Report) reported revenue of $193.06 million, up 145% over the same period last year. EPS came in at -$0.46, compared to $0.45 in the year-ago quarter.
The reported revenue represents a surprise of +23.13% over the Zacks Consensus Estimate of $156.8 million. With the consensus EPS estimate being -$0.32, the EPS surprise was -43.75%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Banc of California performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 1.7% compared to the 2.2% average estimate based on five analysts.
- Average Balance - Total interest-earning assets: $35.42 billion versus $34.89 billion estimated by four analysts on average.
- Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0.2% compared to the 0.2% average estimate based on four analysts.
- Efficiency Ratio: 127.3% versus 93.9% estimated by four analysts on average.
- Total Non-performing assets: $81.67 million versus $166.14 million estimated by two analysts on average.
- Tier 1 leverage ratio: 9% versus 8.4% estimated by two analysts on average.
- Total Non-performing loans: $74.28 million versus the two-analyst average estimate of $162.73 million.
- Net Interest Income: $151.05 million compared to the $169.15 million average estimate based on five analysts.
View all Key Company Metrics for Banc of California here>>>Shares of Banc of California have returned -4.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended December 2023, Banc of California (BANC - Free Report) reported revenue of $193.06 million, up 145% over the same period last year. EPS came in at -$0.46, compared to $0.45 in the year-ago quarter.
The reported revenue represents a surprise of +23.13% over the Zacks Consensus Estimate of $156.8 million. With the consensus EPS estimate being -$0.32, the EPS surprise was -43.75%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Banc of California performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 1.7% compared to the 2.2% average estimate based on five analysts.
- Average Balance - Total interest-earning assets: $35.42 billion versus $34.89 billion estimated by four analysts on average.
- Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0.2% compared to the 0.2% average estimate based on four analysts.
- Efficiency Ratio: 127.3% versus 93.9% estimated by four analysts on average.
- Total Non-performing assets: $81.67 million versus $166.14 million estimated by two analysts on average.
- Tier 1 leverage ratio: 9% versus 8.4% estimated by two analysts on average.
- Total Non-performing loans: $74.28 million versus the two-analyst average estimate of $162.73 million.
- Net Interest Income: $151.05 million compared to the $169.15 million average estimate based on five analysts.
View all Key Company Metrics for Banc of California here>>>Shares of Banc of California have returned -4.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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