Banc Of California: An Inflection Point May Have Been Reached [Seeking Alpha]
Banc of California, Inc. (BANC)
Last banc of california, inc. earnings: 4/29 06:00 am
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US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4074352
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Source: Seeking Alpha
MicroStockHub/iStock via Getty ImagesIntroductionIn June, I discussed the performance of Banc of California (NYSE:BANCdecision to call its preferred shares. I argued that not having to pay out a preferred dividend would have an immediate and positive impact on the EPS. The Q2 results have now been published and BANCâ??s EPS was quite satisfying. And perhaps more importantly: The fall-out caused by the higher interest rates came in lower than I had expected so thatâ??s an additional bonus.Data by YChartsThe earnings result remains strongIn the second quarter of this year, Banc of California saw its net interest income increase again for the fourth consecutive quarter. Whatâ??s interesting is that the interest income increased byapproximately 5% to $88.4MBanc of California Investor RelationsThe total non-interest expenses remained stable at approximately $41M resulting in a pre-tax income of $36.9M and a net income of $26.7M. Thatâ??s substantially lower than the $67.3M and $48.5M respe
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BANC
News
- Banc of California, Inc. (NYSE: BANC) had its price target lowered by analysts at Barclays PLC from $16.00 to $15.00. They now have an "equal weight" rating on the stock.MarketBeat
- Banc of California, Inc. (NYSE: BANC) had its price target lowered by analysts at Wedbush from $16.00 to $15.00. They now have a "neutral" rating on the stock.MarketBeat
- Compared to Estimates, Banc of California (BANC) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
- Banc of California, Inc. Reports First Quarter 2024 Financial Results with Improved Profitability and Strengthened Balance SheetBusiness Wire
- Banc of California, Inc. (NYSE: BANC) had its price target raised by analysts at Wells Fargo & Company from $14.00 to $16.00. They now have an "equal weight" rating on the stock.MarketBeat
BANC
Earnings
- 4/23/24 - Miss
BANC
Sec Filings
- 4/23/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEF
- BANC's page on the SEC website