The upcoming report from Banc of California (BANC) is expected to reveal quarterly earnings of $0.23 per share, indicating an increase of 150% compared to the year-ago period. Analysts forecast revenues of $273.08 million, representing an increase of 41.5% year over year.
The current level reflects an upward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Banc of California metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Average Balance - Total interest-earning assets' will reach $30.96 billion. Compared to the current estimate, the company reported $35.42 billion in the same quarter of the previous year.
The average prediction of analysts places 'Total Non-performing loans' at $165.06 million. The estimate is in contrast to the year-ago figure of $74.28 million.
The collective assessment of analysts points to an estimated 'Total Non-performing assets' of $174.39 million. Compared to the present estimate, the company reported $81.67 million in the same quarter last year.
Analysts predict that the 'Net Interest Income' will reach $238.86 million. The estimate compares to the year-ago value of $151.05 million.
View all Key Company Metrics for Banc of California here>>>
Banc of California shares have witnessed a change of +4.9% in the past month, in contrast to the Zacks S&P 500 composite's -0.4% move. With a Zacks Rank #3 (Hold), BANC is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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