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ServisFirst (SFBS) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, ServisFirst Bancshares (SFBS - Free Report) reported revenue of $107.83 million, down 20.3% over the same period last year. EPS came in at $0.98, compared to $1.17 in the year-ago quarter.
The reported revenue represents a surprise of -1.35% over the Zacks Consensus Estimate of $109.31 million. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.
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.
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 ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 38.6% versus 36.4% estimated by two analysts on average.
Net charge-offs (recoveries) to total average loans: 0.2% versus 0.2% estimated by two analysts on average.
Net Interest Margin: 2.6% versus 2.8% estimated by two analysts on average.
Average Balance - Interest-earning Assets: $14.98 billion compared to the $14.29 billion average estimate based on two analysts.
Increase in cash surrender value life insurance (Bank-owned life insurance income): $1.82 million versus the two-analyst average estimate of $1.61 million.
Other Operating Income: $0.80 million compared to the $0.75 million average estimate based on two analysts.
Net Interest Income: $99.70 million versus $101.85 million estimated by two analysts on average.
Total Non-interest income: $8.14 million versus the two-analyst average estimate of $7.47 million.
Mortgage banking: $0.83 million versus the two-analyst average estimate of $0.68 million.
Credit card income: $2.53 million versus $2.44 million estimated by two analysts on average.
Service charges on deposit accounts: $2.16 million versus the two-analyst average estimate of $1.99 million.
Shares of ServisFirst have returned -0.2% over the past month versus the Zacks S&P 500 composite's -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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ServisFirst (SFBS) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, ServisFirst Bancshares (SFBS - Free Report) reported revenue of $107.83 million, down 20.3% over the same period last year. EPS came in at $0.98, compared to $1.17 in the year-ago quarter.
The reported revenue represents a surprise of -1.35% over the Zacks Consensus Estimate of $109.31 million. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.
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.
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 ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 38.6% versus 36.4% estimated by two analysts on average.
- Net charge-offs (recoveries) to total average loans: 0.2% versus 0.2% estimated by two analysts on average.
- Net Interest Margin: 2.6% versus 2.8% estimated by two analysts on average.
- Average Balance - Interest-earning Assets: $14.98 billion compared to the $14.29 billion average estimate based on two analysts.
- Increase in cash surrender value life insurance (Bank-owned life insurance income): $1.82 million versus the two-analyst average estimate of $1.61 million.
- Other Operating Income: $0.80 million compared to the $0.75 million average estimate based on two analysts.
- Net Interest Income: $99.70 million versus $101.85 million estimated by two analysts on average.
- Total Non-interest income: $8.14 million versus the two-analyst average estimate of $7.47 million.
- Mortgage banking: $0.83 million versus the two-analyst average estimate of $0.68 million.
- Credit card income: $2.53 million versus $2.44 million estimated by two analysts on average.
- Service charges on deposit accounts: $2.16 million versus the two-analyst average estimate of $1.99 million.
View all Key Company Metrics for ServisFirst here>>>Shares of ServisFirst have returned -0.2% over the past month versus the Zacks S&P 500 composite's -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.