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Here's What Key Metrics Tell Us About First Citizens (FCNCA) Q2 Earnings
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First Citizens BancShares (FCNCA - Free Report) reported $2.46 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 6.1%. EPS of $50.87 for the same period compares to $52.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +7.03%. The company delivered an EPS surprise of +13.27%, with the consensus EPS estimate being $44.91.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 First Citizens performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 56.4% versus the six-analyst average estimate of 53.1%.
Net Interest Margin: 3.6% versus the six-analyst average estimate of 3.6%.
Book value per share: $1,487 versus $1,482.19 estimated by five analysts on average.
Average Balance - Total interest-earning assets: $200.71 billion versus $201.28 billion estimated by five analysts on average.
Net charge-off ratio: 0.4% versus the four-analyst average estimate of 0.4%.
Nonaccrual loans at period end: $1.14 billion versus $1.07 billion estimated by three analysts on average.
Total Non Interest Income: $639 million versus $480 million estimated by six analysts on average.
Net Interest Income: $1.82 billion versus $1.79 billion estimated by six analysts on average.
Service charges on deposit accounts: $44 million versus the five-analyst average estimate of $44.18 million.
Cardholder services, net: $40 million versus the five-analyst average estimate of $40.62 million.
Factoring commissions: $19 million versus $17.50 million estimated by five analysts on average.
Merchant services, net: $12 million versus $12.11 million estimated by five analysts on average.
Shares of First Citizens have returned +12.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About First Citizens (FCNCA) Q2 Earnings
First Citizens BancShares (FCNCA - Free Report) reported $2.46 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 6.1%. EPS of $50.87 for the same period compares to $52.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +7.03%. The company delivered an EPS surprise of +13.27%, with the consensus EPS estimate being $44.91.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 First Citizens performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 56.4% versus the six-analyst average estimate of 53.1%.
- Net Interest Margin: 3.6% versus the six-analyst average estimate of 3.6%.
- Book value per share: $1,487 versus $1,482.19 estimated by five analysts on average.
- Average Balance - Total interest-earning assets: $200.71 billion versus $201.28 billion estimated by five analysts on average.
- Net charge-off ratio: 0.4% versus the four-analyst average estimate of 0.4%.
- Nonaccrual loans at period end: $1.14 billion versus $1.07 billion estimated by three analysts on average.
- Total Non Interest Income: $639 million versus $480 million estimated by six analysts on average.
- Net Interest Income: $1.82 billion versus $1.79 billion estimated by six analysts on average.
- Service charges on deposit accounts: $44 million versus the five-analyst average estimate of $44.18 million.
- Cardholder services, net: $40 million versus the five-analyst average estimate of $40.62 million.
- Factoring commissions: $19 million versus $17.50 million estimated by five analysts on average.
- Merchant services, net: $12 million versus $12.11 million estimated by five analysts on average.
View all Key Company Metrics for First Citizens here>>>Shares of First Citizens have returned +12.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.