Reports Q3 revenue $287.7M, consensus $283.9M. Jared Wolff, Chairman & CEO of Banc of California (BANC), commented, “Our third quarter results reflect the strength of our core earnings engine and the disciplined execution of our business plan by our teams. We continued to deliver double digit earnings growth on an adjusted basis, expanded operating leverage, and meaningfully improved profitability. We further strengthened our balance sheet with higher capital levels, strong loan production, growth in relationship deposits, and proactive credit management. As we continue to remix the balance sheet, we expect further earnings growth.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BANC:
- BANC Upcoming Earnings Report: What to Expect?
- Banc of California price target raised to $21 from $19 at Barclays
- Banc of California upgraded to Strong Buy from Outperform at Raymond James
- Banc of California upgraded to Overweight from Neutral at JPMorgan
- Banc of California price target raised to $20 from $18 at Wells Fargo