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Banc of California Inc. (BANC)
NYSE:BANC
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
0.17Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 23, 2025
|% Change Since: -3.93%
|Next Earnings Date:Jul 29, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed view. While there were notable achievements such as strong loan growth, margin expansion, and a robust share buyback program, there were also challenges with credit downgrades, economic uncertainty, and a decline in certain loan segments. The bank remains cautious due to the macroeconomic environment but is optimistic about its market position.Company Guidance
During Banc of California's first quarter earnings call, the company reported several key metrics and provided guidance for the remainder of 2025. The quarter saw net income of $43.6 million, or $0.26 per share, and net interest income of $232 million, resulting in a net interest margin increase to 3.08%. Loan production, including unfunded commitments, was $2.6 billion, with a loan portfolio growth of 6% on an annualized basis. The bank announced a $150 million share buyback program, which was upsized to $300 million. Despite a strong first quarter performance, the outlook for loan growth was adjusted to mid-single-digit growth due to economic uncertainties, although high single-digit growth remains a target. The company's credit reserve level stands at 1.1% of total loans, with an economic coverage ratio of 1.66%. Noninterest income was $33.7 million, and noninterest expense increased to $183.7 million. The bank aims to increase its noninterest-bearing deposits to 30% of total deposits by the end of the year, with a long-term target of 35%. Additionally, the company remains focused on maintaining a strong balance sheet and capital liquidity positions amid market volatility.Strong Loan Growth
Loan production, including unfunded commitments, was $2.6 billion, up from $1.8 billion in the fourth quarter, resulting in a loan portfolio growth of 6% on an annualized basis.
Share Buyback Program
Announced a $150 million share buyback program, completed the initial repurchase of 6.8% of shares, and expanded the program to cover both common and preferred stock with an additional $150 million.
Net Interest Margin Expansion
Net interest margin increased by four basis points to 3.08% due to a 13 basis point decline in cost of funds.
Stable Non-Interest Expenses
Total noninterest expense of $183.7 million remained consistent, despite seasonally higher compensation-related expenses.
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BANC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BANC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 23, 2025 | $13.74 | $13.47 | -1.97% |
| Jan 23, 2025 | $15.95 | $15.58 | -2.32% |
| Oct 22, 2024 | $14.60 | $15.21 | +4.18% |
| Jul 23, 2024 | $14.38 | $13.55 | -5.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Banc of California Inc. (BANC) report earnings?
Banc of California Inc. (BANC) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Banc of California Inc. (BANC) earnings time?
Banc of California Inc. (BANC) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BANC EPS forecast?
BANC EPS forecast for the fiscal quarter 2025 (Q1) is 0.23.
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