Banc of California
Market Cap
US$892.3m
Last Updated
2021/01/27 23:28 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has Banc of California's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BANC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: BANC's weekly volatility (8%) has been stable over the past year.
Market Performance
7 Day Return
-5.3%
BANC
-6.2%
US Banks
-2.7%
US Market
1 Year Return
3.7%
BANC
-10.3%
US Banks
21.2%
US Market
Return vs Industry: BANC exceeded the US Banks industry which returned -8% over the past year.
Return vs Market: BANC underperformed the US Market which returned 24.3% over the past year.
Shareholder returns
| BANC | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.3% | -6.2% | -2.7% |
| 30 Day | 13.1% | 1.4% | 1.8% |
| 90 Day | 43.2% | 30.9% | 16.4% |
| 1 Year | 5.9%3.7% | -7.0%-10.3% | 23.9%21.2% |
| 3 Year | -7.4%-13.7% | -6.5%-14.5% | 43.7%34.2% |
| 5 Year | 25.3%10.8% | 75.1%53.2% | 124.3%99.2% |
Long-Term Price Volatility Vs. Market
How volatile is Banc of California's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Banc of California, Inc. (NYSE:BANC) Investors Should Think About This Before Buying It For Its Dividend1 month ago | Simply Wall St
Don't Race Out To Buy Banc of California, Inc. (NYSE:BANC) Just Because It's Going Ex-Dividend1 month ago | Simply Wall St
Reflecting on Banc of California's (NYSE:BANC) Share Price Returns Over The Last Three YearsValuation
Is Banc of California undervalued compared to its fair value and its price relative to the market?
1.2x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: BANC ($17) is trading above our estimate of fair value ($16.34)
Significantly Below Fair Value: BANC is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: BANC is unprofitable, so we can't compare its PE Ratio to the US Banks industry average.
PE vs Market: BANC is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate BANC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BANC is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1x).
Next Steps
Future Growth
How is Banc of California forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
78.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BANC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).
Earnings vs Market: BANC is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: BANC's is expected to become profitable in the next 3 years.
Revenue vs Market: BANC's revenue (12.7% per year) is forecast to grow faster than the US market (10.6% per year).
High Growth Revenue: BANC's revenue (12.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BANC's Return on Equity is forecast to be low in 3 years time (8.2%).
Next Steps
Past Performance
How has Banc of California performed over the past 5 years?
-50.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BANC is currently unprofitable.
Growing Profit Margin: BANC is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: BANC is unprofitable, and losses have increased over the past 5 years at a rate of 50% per year.
Accelerating Growth: Unable to compare BANC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: BANC is unprofitable, making it difficult to compare its past year earnings growth to the Banks industry (-2.6%).
Return on Equity
High ROE: BANC has a negative Return on Equity (1.4%), as it is currently unprofitable.
Next Steps
Financial Health
How is Banc of California's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: BANC's Assets to Equity ratio (8.8x) is low.
Allowance for Bad Loans: BANC has a sufficient allowance for bad loans (221%).
Low Risk Liabilities: 87% of BANC's liabilities are made up of primarily low risk sources of funding.
Loan Level: BANC has an appropriate level of Loans to Assets ratio (74%).
Low Risk Deposits: BANC's Loans to Deposits ratio (96%) is appropriate.
Level of Bad Loans: BANC has an appropriate level of bad loans (0.6%).
Next Steps
Dividend
What is Banc of California current dividend yield, its reliability and sustainability?
1.41%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BANC's dividend (1.41%) is higher than the bottom 25% of dividend payers in the US market (1.39%).
High Dividend: BANC's dividend (1.41%) is low compared to the top 25% of dividend payers in the US market (3.87%).
Stability and Growth of Payments
Stable Dividend: BANC's dividend payments have been volatile in the past 10 years.
Growing Dividend: BANC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: BANC is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: BANC's dividends in 3 years are forecast to be well covered by earnings (21.8% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
Jared Wolff (50 yo)
1.83yrs
Tenure
US$5,058,275
Compensation
Mr. Jared M. Wolff is President and Chief Executive Officer of Banc of California, Inc., and a director of the Company since March 2019. Mr. Wolff also serves as Chairman of the Board of Banc of California...
CEO Compensation Analysis
Compensation vs Market: Jared's total compensation ($USD5.06M) is above average for companies of similar size in the US market ($USD2.37M).
Compensation vs Earnings: Insufficient data to compare Jared's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.83yrs | US$5.06m | 0.33% $ 3.0m | |
| CFO & Executive VP | 1.08yrs | US$431.59k | 0.0067% $ 59.9k | |
| Senior VP | 2.33yrs | US$561.46k | 0.0062% $ 55.6k | |
| Executive VP & Chief Risk Officer | 1.67yrs | US$1.06m | 0.019% $ 167.1k | |
| Executive VP | 1.67yrs | US$673.63k | no data | |
| President of Private & Specialty Banking | 4.25yrs | no data | no data | |
| Senior Vice President of Private Banking | 2.83yrs | no data | no data | |
| Senior VP & Relationship Manager | 2.75yrs | no data | no data | |
| Executive Vice President of Treasury Management | 1.42yrs | no data | no data | |
| Executive VP & Chief Credit Officer | 1yr | no data | no data | |
| President of Real Estate & Commercial Banking | no data | no data | no data | |
| President of Community & Business Banking | no data | no data | no data |
1.8yrs
Average Tenure
51.5yo
Average Age
Experienced Management: BANC's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.83yrs | US$5.06m | 0.33% $ 3.0m | |
| Independent Director | 3.58yrs | US$163.86k | 0.021% $ 183.3k | |
| Independent Director | 3.92yrs | US$165.45k | 0.14% $ 1.2m | |
| Independent Chairman of the Board | 4yrs | US$246.85k | 0.10% $ 932.5k | |
| Independent Director | 7.75yrs | US$170.65k | 0.098% $ 871.6k | |
| Independent Director | 3.92yrs | US$176.56k | 0.060% $ 538.1k | |
| Independent Director | 3.58yrs | US$171.81k | 0.045% $ 402.4k | |
| Director Nominee | no data | no data | no data | |
| Independent Director | 1.17yrs | US$61.71k | 0.072% $ 643.2k | |
| Independent Director | 2.33yrs | US$167.90k | 0.0074% $ 65.7k | |
| Independent Director | 1.17yrs | US$60.76k | 0.00014% $ 1.2k |
3.6yrs
Average Tenure
61yo
Average Age
Experienced Board: BANC's board of directors are considered experienced (3.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BANC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Banc of California, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Banc of California, Inc.
- Ticker: BANC
- Exchange: NYSE
- Founded: 1941
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$892.348m
- Shares outstanding: 50.24m
- Website: https://bancofcal.com
Number of Employees
Location
- Banc of California, Inc.
- 3 MacArthur Place
- Santa Ana
- California
- 92707
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BANC | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Aug 2002 |
| FPB | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 2002 |
| BANC.PRD | NYSE (New York Stock Exchange) | DEP SHS SER-D | US | USD | Apr 2015 | |
| BANC.PRE | NYSE (New York Stock Exchange) | DEP SHS REPSTG | US | USD | Feb 2016 |
Biography
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 produ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/27 23:28 |
| End of Day Share Price | 2021/01/27 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.