We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Compared to Estimates, Banc of California (BANC) Q1 Earnings: A Look at Key Metrics
Read MoreHide Full Article
Banc of California (BANC - Free Report) reported $272.96 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 237.4%. EPS of $0.19 for the same period compares to $0.37 a year ago.
The reported revenue represents a surprise of -7.79% over the Zacks Consensus Estimate of $296.02 million. With the consensus EPS estimate being $0.26, the EPS surprise was -26.92%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 2.8% versus 2.9% estimated by five analysts on average.
Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0% versus 0.1% estimated by four analysts on average.
Average Balance - Total interest-earning assets: $34.62 billion compared to the $35.45 billion average estimate based on four analysts.
Tier 1 leverage ratio: 9.1% compared to the 9% average estimate based on two analysts.
Total Non-performing loans: $145.98 million versus $67.53 million estimated by two analysts on average.
Total Non-performing assets: $158.47 million versus $75.23 million estimated by two analysts on average.
Total Non Interest Income: $33.82 million versus the five-analyst average estimate of $38.39 million.
Net Interest Income: $239.15 million versus the five-analyst average estimate of $257.83 million.
Shares of Banc of California have returned -3.3% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Compared to Estimates, Banc of California (BANC) Q1 Earnings: A Look at Key Metrics
Banc of California (BANC - Free Report) reported $272.96 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 237.4%. EPS of $0.19 for the same period compares to $0.37 a year ago.
The reported revenue represents a surprise of -7.79% over the Zacks Consensus Estimate of $296.02 million. With the consensus EPS estimate being $0.26, the EPS surprise was -26.92%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 2.8% versus 2.9% estimated by five analysts on average.
- Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0% versus 0.1% estimated by four analysts on average.
- Average Balance - Total interest-earning assets: $34.62 billion compared to the $35.45 billion average estimate based on four analysts.
- Tier 1 leverage ratio: 9.1% compared to the 9% average estimate based on two analysts.
- Total Non-performing loans: $145.98 million versus $67.53 million estimated by two analysts on average.
- Total Non-performing assets: $158.47 million versus $75.23 million estimated by two analysts on average.
- Total Non Interest Income: $33.82 million versus the five-analyst average estimate of $38.39 million.
- Net Interest Income: $239.15 million versus the five-analyst average estimate of $257.83 million.
View all Key Company Metrics for Banc of California here>>>Shares of Banc of California have returned -3.3% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.