Fifty-two of the 89 banks that reported second-quarter earnings between July 22 and July 26 beat analysts' expectations, while 18 were in line with EPS estimates and 19 missed estimates.
Santa Ana, Cal.-based Banc of California Inc. had the biggest surprise, reporting a normalized EPS of 32 cents for the second quarter, 88.2% higher than the mean analyst estimate of 17 cents. Madison, Wis.-based First Business Financial Services Inc. and Dallas-based Hilltop Holdings Inc. beat their consensus estimates by 59.6% and 59.0%, respectively.
At the other end of the spectrum, Houston-based Cadence Bancorp. had the greatest miss, reporting a normalized EPS of 40 cents, compared to the consensus estimate of 58 cents.