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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 $120 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 41%. EPS of $0.30 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $79.6 million, representing a surprise of +50.75%. The company delivered an EPS surprise of -3.23%, with the consensus EPS estimate being $0.31.
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 charge-offs to Average Loan: 0.7% versus 0.2% estimated by three analysts on average.
Efficiency Ratio: 46.8% compared to the 62.3% average estimate based on three analysts.
Net Interest Margin: 3.2% compared to the 3.2% average estimate based on three analysts.
Total interest-earning assets: $8.61 billion compared to the $8.97 billion average estimate based on two analysts.
Total Non-performing loans: $60.56 million versus $68.81 million estimated by two analysts on average.
Total Non-performing assets: $61.44 million versus $69.26 million estimated by two analysts on average.
Net Interest Income: $69.22 million compared to the $73.57 million average estimate based on three analysts.
Shares of Banc of California have returned -7.2% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform 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 $120 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 41%. EPS of $0.30 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $79.6 million, representing a surprise of +50.75%. The company delivered an EPS surprise of -3.23%, with the consensus EPS estimate being $0.31.
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 charge-offs to Average Loan: 0.7% versus 0.2% estimated by three analysts on average.
- Efficiency Ratio: 46.8% compared to the 62.3% average estimate based on three analysts.
- Net Interest Margin: 3.2% compared to the 3.2% average estimate based on three analysts.
- Total interest-earning assets: $8.61 billion compared to the $8.97 billion average estimate based on two analysts.
- Total Non-performing loans: $60.56 million versus $68.81 million estimated by two analysts on average.
- Total Non-performing assets: $61.44 million versus $69.26 million estimated by two analysts on average.
- Net Interest Income: $69.22 million compared to the $73.57 million average estimate based on three analysts.
View all Key Company Metrics for Banc of California here>>>Shares of Banc of California have returned -7.2% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.