Banc of California(US:BANC) ZACKSยท2024-10-22 14:35Core 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]