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First Citizens (FCNCA) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, First Citizens BancShares (FCNCA - Free Report) reported revenue of $2.45 billion, down 6.1% over the same period last year. EPS came in at $45.87, compared to $55.92 in the year-ago quarter.
The reported revenue represents a surprise of +3.79% over the Zacks Consensus Estimate of $2.36 billion. With the consensus EPS estimate being $47.94, the EPS surprise was -4.32%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Net Interest Margin: 3.5% versus the five-analyst average estimate of 3.6%.
Efficiency Ratio: 59.5% compared to the 52.8% average estimate based on five analysts.
Book value per share: $1,547.81 versus $1,513.42 estimated by five analysts on average.
Net charge-off ratio: 0.4% versus the four-analyst average estimate of 0.4%.
Average Balance - Total interest-earning assets: $200.50 billion versus the four-analyst average estimate of $203.80 billion.
Nonaccrual loans at period end: $1.24 billion versus the three-analyst average estimate of $1.14 billion.
Net Interest Income: $1.80 billion compared to the $1.82 billion average estimate based on five analysts.
Factoring commissions: $19 million versus $18.53 million estimated by four analysts on average.
Cardholder services, net: $42 million versus the four-analyst average estimate of $40.35 million.
Service charges on deposit accounts: $45 million versus the four-analyst average estimate of $44.22 million.
Merchant services, net: $12 million compared to the $12.05 million average estimate based on four analysts.
Insurance commissions: $14 million compared to the $13 million average estimate based on three analysts.
Shares of First Citizens have returned +13.3% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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First Citizens (FCNCA) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, First Citizens BancShares (FCNCA - Free Report) reported revenue of $2.45 billion, down 6.1% over the same period last year. EPS came in at $45.87, compared to $55.92 in the year-ago quarter.
The reported revenue represents a surprise of +3.79% over the Zacks Consensus Estimate of $2.36 billion. With the consensus EPS estimate being $47.94, the EPS surprise was -4.32%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Net Interest Margin: 3.5% versus the five-analyst average estimate of 3.6%.
- Efficiency Ratio: 59.5% compared to the 52.8% average estimate based on five analysts.
- Book value per share: $1,547.81 versus $1,513.42 estimated by five analysts on average.
- Net charge-off ratio: 0.4% versus the four-analyst average estimate of 0.4%.
- Average Balance - Total interest-earning assets: $200.50 billion versus the four-analyst average estimate of $203.80 billion.
- Nonaccrual loans at period end: $1.24 billion versus the three-analyst average estimate of $1.14 billion.
- Net Interest Income: $1.80 billion compared to the $1.82 billion average estimate based on five analysts.
- Factoring commissions: $19 million versus $18.53 million estimated by four analysts on average.
- Cardholder services, net: $42 million versus the four-analyst average estimate of $40.35 million.
- Service charges on deposit accounts: $45 million versus the four-analyst average estimate of $44.22 million.
- Merchant services, net: $12 million compared to the $12.05 million average estimate based on four analysts.
- Insurance commissions: $14 million compared to the $13 million average estimate based on three analysts.
View all Key Company Metrics for First Citizens here>>>Shares of First Citizens have returned +13.3% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.