BANC Stock Recent News

Banc of California received a $400 million investment from Warburg Pincus (related entities) to inject liquidity and strengthen its business. Integration efforts include selling problematic loans. The stock has lagged industry recovery, that should change as the bank continues to recover.

LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (the “Company”) (NYSE: BANC) today announced it will release 2024 third quarter financial results on Tuesday, October 22, 2024. The Company will host a conference call to discuss its third quarter results at 10:00 a.m. Pacific Time (PT) on the same day. Interested parties are welcome to attend the conference call by dialing (888) 317-6003 and referencing event code 6084667. A link to the live audio webcast and the slide presentation for the.

LOS ANGELES--(BUSINESS WIRE)-- #Lending--Banc of California, a wholly owned subsidiary of Banc of California, Inc. (NYSE: BANC), announced today that Chris Hague has joined the company as Executive Vice President and Head of Specialty Finance. In this role, Hague oversees the bank's teams in Lender Finance, Asset-Based Lending (ABL), and Corporate Asset Finance and Commercial Aviation (CAF). Hague is also a member of the bank's Senior Management Committee. Hague is based in Chicago and reports to Hamid Hu.

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.