Banc of California, Inc. (BANC) vs NBT Bancorp Inc. (NBTB)

Banc of California, Inc. and NBT Bancorp Inc. are both Banks Regional companies. Banc of California, Inc. and NBT Bancorp Inc. are of similar size ($2.8B and $2.7B). Banc of California, Inc. has negative trailing earnings, so its P/E is not meaningful; NBT Bancorp Inc. trades at 12.6×. NBT Bancorp Inc. grew revenue faster over the last twelve months: 14.5% against −12.9%. NBT Bancorp Inc. has the higher net margin (22.6% vs −4.01%) and the higher return on invested capital (9.65% vs −2.54%). Both pay a dividend; NBT Bancorp Inc. yields more (3.86% vs 3.15%). Across the 19 metrics below, NBT Bancorp Inc. leads on 11 and Banc of California, Inc. on 8.

Valuation

Metric BANC NBTB Banks Regional median
P/E n/m 12.58 12.15
P/S 1.81 2.83 2.37
P/B 0.96 1.38 1.21
Price to free cash flow 7.71 10.91 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.36 2.68 2.27
Earnings yield (2.22%) 7.95% 8.11%
Free cash flow yield 12.96% 9.16% 8.98%

Profitability

Metric BANC NBTB Banks Regional median
Gross margin 57.08% 78.28% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (4.01%) 22.58% 18.66%
Free cash flow margin 23.51% 25.90% 21.18%
Return on equity (2.13%) 11.42% 10.64%
Return on assets (0.18%) 1.33% 1.13%
Return on invested capital (2.54%) 9.65% 8.33%

Growth

Metric BANC NBTB Banks Regional median
Revenue growth (TTM) (12.92%) 14.47% 6.61%
EPS growth (last fiscal year) 125.00% 12.12% —
Revenue growth, 5-year CAGR 42.51% 12.88% 12.30%
Net income growth, 5-year CAGR 0.00% 10.15% 9.71%

Health

Metric BANC NBTB Banks Regional median
Debt to equity 0.17 0.08 0.22
Current ratio 0.89 0.87 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BANC NBTB Banks Regional median
Dividend yield 3.15% 3.86% 3.75%
Payout ratio 0.23 0.37 0.27

Size

Metric BANC NBTB Banks Regional median
Market cap 2.81b 2.66b 921.07m

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