Banc of California (BANC) Reports Q4 Earnings: What Key Metrics Have to Say

Core Insights - Banc of California reported a revenue of $193.06 million for Q4 2023, marking a 145% increase year-over-year and exceeding the Zacks Consensus Estimate by 23.13% [1] - The company reported an EPS of -$0.46, a decline from $0.45 in the same quarter last year, with an EPS surprise of -43.75% compared to the consensus estimate of -$0.32 [1] Financial Metrics - Net Interest Margin was 1.7%, below the average estimate of 2.2% from five analysts [2] - Average Balance of Total interest-earning assets was $35.42 billion, slightly above the estimated $34.89 billion [2] - Annualized net loan charge-offs to average total loans held-for-investment stood at 0.2%, matching the average estimate [2] - Efficiency Ratio was reported at 127.3%, significantly higher than the estimated 93.9% [2] - Total Non-performing assets were $81.67 million, lower than the estimated $166.14 million [2] - Tier 1 leverage ratio was 9%, exceeding the estimated 8.4% [2] - Total Non-performing loans were $74.28 million, well below the average estimate of $162.73 million [2] - Net Interest Income was $151.05 million, below the average estimate of $169.15 million [2] Stock Performance - Banc of California shares have decreased by 4.6% over the past month, contrasting with a 2.5% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]