Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
United StatesIPO:
23 August 2002Website:
http://bancofcal.comNext earnings report:
25 July 2024Last dividends:
14 June 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 20:14:26 GMTAnalysts recommendations
Institutional Ownership
BANC Latest News
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.
LOS ANGELES--(BUSINESS WIRE)-- #Startups--Banc of California, a wholly owned subsidiary of Banc of California Inc. (NYSE: BANC), announced today the launch of Build@Banc, a service dedicated to providing tailored banking solutions to seed and early-stage innovative startups. The Build@Banc team also provides guidance and resources to help founders choose the right banking solutions and offers introductions to its well-established network of investors and advisers. “We want companies to start with us, stay.
Banc of California acquired PacWest's preferred shares in a late 2023 acquisition. Despite having a different asset mix, Banc of California is believed to have strong adjusted capital levels similar to PacWest. While most of the appreciation has already taken place, the preferred shares are still appealing for their income and total return potential.
Banc of California Inc (NYSE:BANC) will be holding a conference call to discuss their Q1 2024 results on April 23, 2024 at 1:00 PM ET. Key company participants include Jared Wolff, Joseph Kauder, and various conference call participants from Barclays, Piper Sandler, KBW, Wells Fargo, D.A. Davidson, Stephens, Janney, Truist Securities, and Raymond James. The operator will begin the call by welcoming everyone to Banc of California's First Quarter Earnings Conference Call.
Banc of California (BANC) lacks the necessary elements for a potential earnings beat in its upcoming report. Be ready with the important expectations.
Banc of California offers an attractive 3% dividend yield and is selling at a 23% discount to its long-term average P/B ratio. BANC has a well-performing core loan portfolio with a strong asset quality profile. The reduction of high-cost short-term borrowings is a NIM catalyst for the bank in FY 2024.
RCL, PAVM, BANC, PRLB and IBP have been added to the Zacks Rank #1 (Strong Buy) List on March 27, 2023.
GATX, BANC and KFY made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 27, 2023.
Banc of California completed a merger with PacWest Bancorp, becoming the third-largest bank headquartered in California. The merger included the sale of $1.9 billion in assets and a $400 equity infusion. The Preferred was originally issued by PacWest. Both the Banc of California and the preferred stock are reviewed. Its desirability as an investment is compared to alternate preferred stocks. The preferred stock has a call date of 9/1/27 and can be called early if Tier 1 capital rules change.
What type of business is Banc of California?
Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company offers deposit products, including checking, savings, money market, retirement, and interest-bearing and noninterest-bearing demand accounts, as well as certificate of deposits. It also provides various commercial and consumer loan products, such as commercial and industrial loans; commercial real estate and multifamily loans; construction loans; single family residential mortgage loans; warehouse and indirect/direct leveraged lending; home equity lines of credit; small business administration loans; and other consumer loans. In addition, the company offers automated bill payment, cash and treasury management, foreign exchange, card payment, remote and mobile deposit capture, automated clearing house origination, wire transfer, direct deposit, and internet banking services; and master demand accounts, interest rate swaps, and safe deposit boxes. Further, it invests in collateralized loan obligations, agency securities, municipal bonds, agency residential mortgage-backed securities, and corporate debt securities. As of December 31, 2020, the company operated 29 full-service branches in Southern California. The company was formerly known as First PacTrust Bancorp, Inc. and changed its name to Banc of California, Inc. in July 2013. Banc of California, Inc. was founded in 1941 and is headquartered in Santa Ana, California.
What sector is Banc of California in?
Banc of California is in the Financial Services sector
What industry is Banc of California in?
Banc of California is in the Banks - Regional industry
What country is Banc of California from?
Banc of California is headquartered in United States
When did Banc of California go public?
Banc of California initial public offering (IPO) was on 23 August 2002
What is Banc of California website?
https://bancofcal.com
Is Banc of California in the S&P 500?
No, Banc of California is not included in the S&P 500 index
Is Banc of California in the NASDAQ 100?
No, Banc of California is not included in the NASDAQ 100 index
Is Banc of California in the Dow Jones?
No, Banc of California is not included in the Dow Jones index
When does Banc of California report earnings?
The next expected earnings date for Banc of California is 25 July 2024