Banc of California (BANC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Banc of California (BANC) reported $75.66 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 11.5%. EPS of $0.32 for the same period compares to $0.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $76.23 million, representing a surprise of -0.76%. 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.
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 charge-offs to Average Loan: 0.3% versus 0.13% estimated by three analysts on average.
Efficiency Ratio: 64.94% versus 64.42% estimated by three analysts on average.
Net Interest Margin: 3.11% versus the three-analyst average estimate of 3.24%.
Total interest-earning assets: $8.97 billion versus the two-analyst average estimate of $8.82 billion.
Total Non-performing loans: $67.31 million versus the two-analyst average estimate of $57.82 million.
Total Non-performing assets: $68.19 million versus $57.82 million estimated by two analysts on average.
Total Non Interest Income: $6.02 million versus the three-analyst average estimate of $5.15 million.
Net Interest Income: $69.63 million versus the three-analyst average estimate of $71.10 million.
View all Key Company Metrics for Banc of California here>>>
Shares of Banc of California have returned +11.6% over the past month versus the Zacks S&P 500 composite's +4.9% 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, Inc. (BANC) : Free Stock Analysis Report