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Banc of California (BANC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

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Banc of California (BANC - Free Report) reported $259.28 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 242.7%. EPS of $0.10 for the same period compares to $0.32 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $271.42 million, representing a surprise of -4.47%. The company delivered an EPS surprise of -47.37%, with the consensus EPS estimate being $0.19.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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 the five-analyst average estimate of 2.8%.
  • Annualized net loan charge-offs (recoveries) to average total loans held-for-investment: 0.9% versus the four-analyst average estimate of 0.1%.
  • Average Balance - Total interest-earning assets: $32.94 billion versus $33.43 billion estimated by four analysts on average.
  • Tier 1 leverage ratio: 9.5% versus 9.5% estimated by two analysts on average.
  • Total Non-performing loans: $117.07 million versus the two-analyst average estimate of $160.38 million.
  • Total Non-performing assets: $130.37 million versus the two-analyst average estimate of $173.12 million.
  • Total Non Interest Income: $29.79 million compared to the $35.36 million average estimate based on five analysts.
  • Net Interest Income: $229.49 million versus $234.23 million estimated by five analysts on average.
  • Leased equipment income: $11.49 million compared to the $11.92 million average estimate based on two analysts.
  • Service charges on deposit accounts: $4.54 million compared to the $4.88 million average estimate based on two analysts.
  • Other commissions and fees: $8.63 million versus the two-analyst average estimate of $9.11 million.
View all Key Company Metrics for Banc of California here>>>

Shares of Banc of California have returned +14.8% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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