Core Viewpoint - The market anticipates Banc of California (BANC) will report a year-over-year increase in earnings driven by higher revenues for the quarter ending December 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The earnings report is expected on January 23, 2025, with a consensus EPS estimate of $0.23, reflecting a 150% increase year-over-year. Revenues are projected at $273.08 million, a 41.5% increase from the previous year [3]. - The consensus EPS estimate has been revised 0.93% higher in the last 30 days, indicating a collective reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.17%, indicating a bearish outlook from analysts [10][11]. - Despite the negative Earnings ESP, Banc of California holds a Zacks Rank of 2, complicating predictions of an earnings beat [11]. Historical Performance - In the last reported quarter, Banc of California exceeded the expected EPS of $0.14 by delivering $0.25, resulting in a surprise of +78.57%. However, the company has only beaten consensus EPS estimates once in the last four quarters [12][13]. Conclusion - While the company may not be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [16].

I analyze oil and gas companies, related companies, and Bank of California in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up h ...

Financial Position - As of September 30, 2024, the company had total assets of $33.4 billion, a decrease of $5.1 billion from $38.5 billion at December 31, 2023[220] - Total loans and leases amounted to $23.6 billion, down from $25.6 billion at the end of 2023, reflecting a decrease of $2.1 billion[220] - Total liabilities were $29.9 billion, a reduction of $5.2 billion from $35.1 billion at December 31, 2023, primarily due to a $3.6 billion decrease in deposits[220] - The company reported total stockholders' equity of $3.5 billion at September 30, 2024, an increase from $3.4 billion at December 31, 2023[220] Mergers and Acquisitions - The merger with PacWest Bancorp was completed on November 30, 2023, with an all-stock transaction valued at approximately $663 million[222] - Goodwill resulting from the merger was recorded at $216.8 million[222] - The company raised $400 million in equity capital concurrent with the merger[222] Asset Management - The company completed the sale of $1.95 billion of Civic business-purpose residential loans, generating net proceeds of $1.91 billion[221] - The company sold assets totaling $6.1 billion and paid down $8.6 billion of high-cost liabilities as part of its balance sheet repositioning strategy following the merger[223] - The company sold $742 million of securities with a weighted average yield of 2.94%, resulting in a pre-tax loss of $60 million, while purchasing $724 million of similar quality securities with a yield of 5.65%[223] Income and Earnings - The adjusted net earnings available to common stockholders for Q3 2024 was $4.53 million, compared to a loss of $181.95 million in the same period last year[232] - The return on average tangible common equity for Q3 2024 was 0.70%, down from 3.13% in the previous year[233] - Net interest income for the three months ended September 30, 2024, was $232,175 thousand, compared to $229,488 thousand for the previous quarter, indicating a slight increase[238] - Adjusted net earnings available to common and equivalent stockholders were $41,414 thousand, a significant recovery from a loss of $25,065 thousand in the same period last year[236] Credit Quality - The provision for credit losses is based on the allowance methodology, reflecting historical experience and economic forecasts, with an emphasis on maintaining credit quality[226] - The provision for credit losses was $9.0 million for Q3 2024, down from $11.0 million in Q2 2024, driven by increases in qualitative reserves for office property loans[252] - The allowance for credit losses at quarter-end was $281.9 million, reflecting a slight increase from $275.3 million in the previous quarter[252] Deposits and Liquidity - Total deposits as of September 30, 2024, were $26,828,269,000, a decrease of $3,573,500,000 from $30,401,769,000 as of December 31, 2023[285] - Noninterest-bearing checking accounts increased to $7,811,796,000, representing 29% of total deposits, up from 26% in the previous period[285] - Available liquidity was $16.2 billion at September 30, 2024, exceeding uninsured and uncollateralized deposits of $6.7 billion, with a coverage ratio of 241%[286] Interest Rate Risk - Interest rate risk is the primary market risk for the company, with ongoing monitoring and management of interest rate sensitivity through established asset/liability committees[316] - The company utilizes a balance sheet simulation model to estimate changes in net interest income and economic value of equity due to interest rate fluctuations[315] - As of September 30, 2024, the company's interest rate risk profile is classified as "liability sensitive," indicating a potential compression in net interest income with rising short-term interest rates[318] Noninterest Income and Expenses - Noninterest income for Q3 2024 decreased by $45.2 million to a loss of $15.5 million, primarily due to a $59.9 million loss on the sale of securities[256] - Total noninterest expense for Q3 2024 decreased by $7.4 million to $196.2 million, mainly due to lower insurance and assessments expense[260] - Noninterest expense for the nine months ended September 30, 2024, decreased by $1.5 billion to $610.4 million compared to $2.1 billion for the same period in 2023, largely due to a $1.4 billion goodwill impairment recorded in 2023[261] Loan Portfolio - The loan and lease portfolio totaled $23,527,777 thousand, with real estate mortgage comprising 56% of the total[270] - Total loans and leases held for investment decreased to $23.5 billion as of September 30, 2024, down from $25.5 billion at December 31, 2023[296] - The company reported a net decrease in loans and leases held for investment of $1,961,910 thousand for the nine months ended September 30, 2024[273] Capital Ratios - The Tier 1 leverage capital ratio was 9.83% as of September 30, 2024, up from 9.00% at December 31, 2023, exceeding the minimum required ratio of 4.00%[300] - The CET1 capital ratio increased to 10.46% as of September 30, 2024, compared to 10.14% at December 31, 2023, surpassing the minimum required ratio of 4.50%[300] - Total capital ratio improved to 17.00% as of September 30, 2024, from 16.43% at December 31, 2023, well above the minimum required ratio of 8.00%[300]

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Banc of California, Inc. (NYSE:BANC) Q3 2024 Earnings Conference Call October 22, 2024 1:00 PM ET Company Participants Ann DeVries - Head, IR Jared Wolff - President and CEO Joe Kauder - CFO Conference Call Participants Matthew Clark - Piper Sandler David Feaster - Raymond James Jared Shaw - Barclays Andrew Terrell - Stephens Gary Tenner - D.A. Davidson Ben Gerlinger - Citi Timur Braziler - Wells Fargo Tim Coffey - Janney Chris McGratty - KBW Operator Good day and welcome to the Banc of California's Third Q ...

Draft v4.5 1/21/24 Investor Presentation Third Quarter 2024 Results Forward-Looking Statements and Other Matters This presentation includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, liquidity and capital ratios and other non-historical statements. Words or phrases such as "believe," "wi ...

Core Insights - Banc of California reported $276.67 million in revenue for Q3 2024, a year-over-year increase of 130.6% [1] - The EPS for the same period was $0.25, down from $0.30 a year ago [1] - Revenue exceeded the Zacks Consensus Estimate of $229.46 million by 20.57%, while EPS surprised by 78.57% against the consensus estimate of $0.14 [1] Financial Metrics - Net Interest Margin stood at 2.9%, matching the five-analyst average estimate [2] - Annualized net loan charge-offs to average total loans held-for-investment was 0%, compared to the four-analyst average estimate of 0.1% [2] - Average Balance of Total interest-earning assets was $31.58 billion, slightly below the four-analyst average estimate of $31.74 billion [2] - Tier 1 leverage ratio was 9.8%, in line with the average estimate based on two analysts [2] - Total Non-performing loans reached $168.34 million, exceeding the two-analyst average estimate of $121.78 million [2] - Total Non-performing assets were $177 million, higher than the two-analyst average estimate of $135.43 million [2] - Total Non Interest Income was -$15.45 million, significantly worse than the five-analyst average estimate of -$1.53 million [2] - Net Interest Income was $232.18 million, slightly above the $230.98 million average estimate based on five analysts [2] - Service charges on deposit accounts totaled $4.57 million, below the $5.32 million estimated by two analysts [2] - Leased equipment income was $17.18 million, surpassing the $11.30 million estimate by two analysts [2] - Other commissions and fees amounted to $8.26 million, compared to the $8.86 million average estimate based on two analysts [2] Stock Performance - Shares of Banc of California have returned -0.3% over the past month, while the Zacks S&P 500 composite increased by 2.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Banc of California (BANC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 78.57%. A quarter ago, it was expected that this banking service and lending company would post earnings of $0.19 per share when it actually produced earnings of $0.10, delivering a surprise of -47.37%.Over the ...

Exhibit 99.1 1 l Quarter 2024 Results Banc of California, Inc. Reports Third Quarter 2024 Financial Results Which Include Balance Sheet Repositioning Company Release – 10/22/2024 LOS ANGELES, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC) ("Banc of California" or the "Company"), the parent company of wholly-owned subsidiary Banc of California (the "Bank"), today reported financial results for the third quarter ended September 30, 2024. The Company reported a net loss available to common and ...

I analyze oil and gas companies, related companies, and Banc Of California in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up h ...