Banc of California, Inc. Announces Retreat In Q4 Income, misses estimates

(RTTNews) - Banc of California, Inc. (BANC) reported a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $$4.02 million, or $$0.07 per share. This compares with $$17.70 million, or $$0.35 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.7% to $$77.89 million from $$68.53 million last year.

Banc of California, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $$4.02 Mln. vs. $$17.70 Mln. last year. -EPS (Q4): $$0.07 vs. $$0.35 last year. -Analyst Estimates: $0.17 -Revenue (Q4): $$77.89 Mln vs. $$68.53 Mln last year.