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Banc of California (BANC) Reports Q3 Earnings: What Key Metrics Have to Say
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Banc of California (BANC - Free Report) reported $276.67 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 130.6%. EPS of $0.25 for the same period compares to $0.30 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $229.46 million, representing a surprise of +20.57%. The company delivered an EPS surprise of +78.57%, with the consensus EPS estimate being $0.14.
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: 2.9% versus the five-analyst average estimate of 2.9%.
Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0% versus the four-analyst average estimate of 0.1%.
Average Balance - Total interest-earning assets: $31.58 billion versus the four-analyst average estimate of $31.74 billion.
Tier 1 leverage ratio: 9.8% compared to the 9.8% average estimate based on two analysts.
Total Non-performing loans: $168.34 million versus the two-analyst average estimate of $121.78 million.
Total Non-performing assets: $177 million versus the two-analyst average estimate of $135.43 million.
Total Non Interest Income: -$15.45 million versus the five-analyst average estimate of -$1.53 million.
Net Interest Income: $232.18 million compared to the $230.98 million average estimate based on five analysts.
Service charges on deposit accounts: $4.57 million versus $5.32 million estimated by two analysts on average.
Leased equipment income: $17.18 million versus $11.30 million estimated by two analysts on average.
Other commissions and fees: $8.26 million compared to the $8.86 million average estimate based on two analysts.
Shares of Banc of California have returned -0.3% over the past month versus the Zacks S&P 500 composite's +2.8% 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.
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Banc of California (BANC) Reports Q3 Earnings: What Key Metrics Have to Say
Banc of California (BANC - Free Report) reported $276.67 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 130.6%. EPS of $0.25 for the same period compares to $0.30 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $229.46 million, representing a surprise of +20.57%. The company delivered an EPS surprise of +78.57%, with the consensus EPS estimate being $0.14.
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: 2.9% versus the five-analyst average estimate of 2.9%.
- Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0% versus the four-analyst average estimate of 0.1%.
- Average Balance - Total interest-earning assets: $31.58 billion versus the four-analyst average estimate of $31.74 billion.
- Tier 1 leverage ratio: 9.8% compared to the 9.8% average estimate based on two analysts.
- Total Non-performing loans: $168.34 million versus the two-analyst average estimate of $121.78 million.
- Total Non-performing assets: $177 million versus the two-analyst average estimate of $135.43 million.
- Total Non Interest Income: -$15.45 million versus the five-analyst average estimate of -$1.53 million.
- Net Interest Income: $232.18 million compared to the $230.98 million average estimate based on five analysts.
- Service charges on deposit accounts: $4.57 million versus $5.32 million estimated by two analysts on average.
- Leased equipment income: $17.18 million versus $11.30 million estimated by two analysts on average.
- Other commissions and fees: $8.26 million compared to the $8.86 million average estimate based on two analysts.
View all Key Company Metrics for Banc of California here>>>Shares of Banc of California have returned -0.3% over the past month versus the Zacks S&P 500 composite's +2.8% 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.