Banc of California Inc reports results for the quarter ended in June - Earnings Summary

Banc of California

23/07/2024 18:21

* Banc of California Inc  BANC.N  reported quarterly
adjusted
earnings of 10 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 31 cents.  The mean expectation of ten analysts for the
quarter was for earnings of 19 cents per share. Wall Street
expected results to range from 14 cents to 23 cents per share.
    * Revenue rose 220.8% to $229.49 million from a year ago;
analysts
expected $240.12 million. 
    * Banc of California Inc's reported EPS for the quarter was
12
cents​.
    * The company reported quarterly net income of $20.39
million.
    * Banc of California Inc shares had risen by 14.9% this
quarter and gained 9.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 29.6%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "hold."

Wall Street's median 12-month price target for Banc of
California Inc is $15.00 
This summary was machine generated from LSEG data July 23 at
05:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.19           0.10           Missed
 Mar. 31 2024      0.22           0.19           Missed
 Dec. 31 2023      -0.08          1.49           Beat
 Sep. 30 2023      0.30           0.30           Met