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ServisFirst (SFBS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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ServisFirst Bancshares (SFBS - Free Report) reported $114.77 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.5%. EPS of $0.95 for the same period compares to $0.98 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $114.8 million, representing a surprise of -0.03%. The company delivered an EPS surprise of +4.40%, with the consensus EPS estimate being $0.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 37.3% compared to the 40% average estimate based on two analysts.
Net charge-offs (recoveries) to total average loans: 0.1% versus the two-analyst average estimate of 0.1%.
Net Interest Margin: 2.8% versus the two-analyst average estimate of 2.7%.
Average Balance - Interest-earning Assets: $15.24 billion compared to the $15.78 billion average estimate based on two analysts.
Net Interest Income: $105.88 million compared to the $106.99 million average estimate based on two analysts.
Service charges on deposit accounts: $2.29 million versus the two-analyst average estimate of $2.20 million.
Mortgage banking: $1.38 million compared to the $0.83 million average estimate based on two analysts.
Other Operating Income: $0.83 million compared to the $0.70 million average estimate based on two analysts.
Total Non-interest income: $8.89 million versus $7.83 million estimated by two analysts on average.
Increase in cash surrender value life insurance (Bank-owned life insurance income): $2.06 million versus the two-analyst average estimate of $1.79 million.
Credit card income: $2.33 million versus $2.29 million estimated by two analysts on average.
Shares of ServisFirst have returned +15.7% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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ServisFirst (SFBS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
ServisFirst Bancshares (SFBS - Free Report) reported $114.77 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.5%. EPS of $0.95 for the same period compares to $0.98 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $114.8 million, representing a surprise of -0.03%. The company delivered an EPS surprise of +4.40%, with the consensus EPS estimate being $0.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 37.3% compared to the 40% average estimate based on two analysts.
- Net charge-offs (recoveries) to total average loans: 0.1% versus the two-analyst average estimate of 0.1%.
- Net Interest Margin: 2.8% versus the two-analyst average estimate of 2.7%.
- Average Balance - Interest-earning Assets: $15.24 billion compared to the $15.78 billion average estimate based on two analysts.
- Net Interest Income: $105.88 million compared to the $106.99 million average estimate based on two analysts.
- Service charges on deposit accounts: $2.29 million versus the two-analyst average estimate of $2.20 million.
- Mortgage banking: $1.38 million compared to the $0.83 million average estimate based on two analysts.
- Other Operating Income: $0.83 million compared to the $0.70 million average estimate based on two analysts.
- Total Non-interest income: $8.89 million versus $7.83 million estimated by two analysts on average.
- Increase in cash surrender value life insurance (Bank-owned life insurance income): $2.06 million versus the two-analyst average estimate of $1.79 million.
- Credit card income: $2.33 million versus $2.29 million estimated by two analysts on average.
View all Key Company Metrics for ServisFirst here>>>Shares of ServisFirst have returned +15.7% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.