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Earnings To Watch: Banc of California (BANC) Reports Q4 Results Tomorrow

BANC Cover Image

Regional bank Banc of California (NYSE: BANC) will be announcing earnings results this Wednesday after market hours. Here’s what you need to know.

Banc of California beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $287.7 million, up 4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.

Is Banc of California a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Banc of California’s revenue to grow 9.2% year on year to $289.1 million, slowing from the 42.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.37 per share.

Banc of California Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Banc of California has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Banc of California’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. First Horizon delivered year-on-year revenue growth of 8.1%, beating analysts’ expectations by 3.2%, and BOK Financial reported revenues up 12.7%, topping estimates by 7.6%. First Horizon traded up 102% following the results.

Read our full analysis of First Horizon’s results here and BOK Financial’s results here.

Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Banc of California is up 4.5% during the same time and is heading into earnings with an average analyst price target of $22.32 (compared to the current share price of $20.80).

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