Banc of California, Inc. (BANC) is currently priced at $18.96, marking an increase of 18.5 cents (0.985%) from the previous close. With a trading volume of $567,111, which is 17.22% higher than the average, the asset shows active trading today.
BANC's latest quarterly earnings report, announced on Tuesday, April 21st, revealed a consensus estimate EPS of 0.38. Further details on revenue and profit margin are pending.
Recently graded by Piper Sandler on April 27, the company's stock was priced at $18.75. The new grade is "Overweight," consistent with the previous rating, with a recommendation to hold.
BANC's cash flow activities indicate a free cash flow of $84.23 million, operating cash flow of $102 million, and a net decrease in cash of $90.3 million for the period. Notably, $58.87 million was used for debt repayment.
The income statement reflects revenue of $442.77 million, generating a gross profit of $277.14 million. Operating income stands at $95.75 million, resulting in a net income of $71.95 million with an EPS of 40 cents.
Key ratios show a gross profit margin of 62.59%, a net profit margin of 16.25%, and a price-to-earnings ratio of 9.5. Noteworthy is the return on equity at 2.02%.
BANC's balance sheet highlights total assets of $34.72 billion, total liabilities of $31.17 billion, and net debt of $3.29 billion.
This comprehensive report provides insights into Banc of California, Inc.'s current financial status and performance metrics.
Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits. It also provides various commercial and consumer loan products, such as commercial and industrial loans; commercial real estate and multifamily loans; construction loans; single family residential mortgage loans; warehouse and indirect/direct leveraged lending; home equity lines of credit; small business administration loans; and other consumer loans. In addition, the company offers automated bill payment, cash and treasury management, foreign exchange, card payment, remote and mobile deposit capture, automated clearing house origination, wire transfer, direct deposit, and internet banking services; and master demand accounts, interest rate swaps, and safe deposit boxes. Further, it invests in collateralized loan obligations, agency securities, municipal bonds, agency residential mortgage-backed securities, and corporate debt securities. As of December 31, 2020, the company operated 29 full-service branches in Southern California. The company was formerly known as First PacTrust Bancorp, Inc. and changed its name to Banc of California, Inc. in July 2013. Banc of California, Inc. was founded in 1941 and is headquartered in Santa Ana, California.