Banc of California Inc reports results for the quarter ended June 30 - Earnings Summary

• Banc of California Inc BANC.N reported quarterly adjusted earnings of 12 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 10 cents. The mean expectation of eleven analysts for the quarter was for earnings of 26 cents per share. Wall Street expected results to range from 24 cents to 30 cents per share.

• Revenue rose 4.6% to $240.10 million from a year ago; analysts expected $249.83 million.

• Banc of California Inc's reported EPS for the quarter was 12 cents​.

• The company reported quarterly net income of $18.44 million.

• Banc of California Inc shares had risen by 7.3% this quarter and lost 2.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.8% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Banc of California Inc is $17.50, about 12.8% above its last closing price of $15.26

This summary was machine generated from LSEG data July 24 at 12:01 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)