BANC Stock Recent News

TORONTO, July 25, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. ("the Company") announces that its semi-annual financial statements and management report of fund performance for the six months ended May 31, 2024 are now available on the Company's website at www.canadianbanc.com and will also be available on www.sedarplus.com.

Banc of California, Inc. (NYSE:BANC ) Q2 2024 Results Conference Call July 23, 2024 1:00 PM ET Company Participants Ann DeVries - Head of Investor Relations Jared Wolff - President and Chief Executive Officer Joe Kauder - Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Jared Shaw - Barclays David Feaster - Raymond James Chris McGratty - KBW Andrew Terrell - Stephens Brandon King - Truist Securities Gary Tenner - D.A. Davidson David Chiaverini - Wedbush Securities Tim Coffey - Janney Operator Good day, and welcome to the Banc of California Second Quarter of 2024 Earnings Conference Call.

The headline numbers for Banc of California (BANC) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Banc of California (BANC) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.32 per share a year ago.

TORONTO, July 17, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.13588 for each Class A share and $0.06667 for each Preferred share. Distributions are payable August 9, 2024 to shareholders on record as at July 31, 2024.

Banc of California (BANC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Banc of California has been busy since closing the PacWest deal, including billions of dollars of balance sheet restructuring in Q1 that meaningfully reduces funding costs. I expect above-average growth in 2025 driven by balance sheet restructuring, NIM improvement, and cost synergies from the PacWest deal. Long-term core earnings growth should grow at 5-6%, driving a fair value above $15, and the shares also appear undervalued on ROTCE-driven P/TBV, with a potential fair value of $18.50-$20.

Banc of California shares are undervalued, trading below book value, with potential for upside due to balance sheet restructuring and growth in the net interest margin. The lender's net interest margin increased to 2.66% in Q1'24, driven by a reduction in high cost wholesale funding. Despite risks to interest rates, Banc of California is a bargain and offers investors significant revaluation potential.

TORONTO, June 19, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.13925 for each Class A share and $0.06667 for each Preferred share. Distributions are payable July 10, 2024 to shareholders on record as at June 28, 2024.

Banc of California and PacWest merger created the third largest bank in California with over 70 branches and a focus on improving profitability. Asset analysis shows a stable loan portfolio with potential for improved profitability through new loan production and asset repricing opportunities. Liability analysis highlights a decrease in deposit costs and borrowing, with a focus on growing non-interest-bearing deposits to fuel profitability and improve net interest margin.