Banc of California (BANC) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Banc of California (BANC) 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Banc of California, Inc. (BANC) : Free Stock Analysis Report
