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First Merchants (FRME) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, First Merchants (FRME - Free Report) reported revenue of $156.51 million, down 9.6% over the same period last year. EPS came in at $0.87, compared to $1.19 in the year-ago quarter.
The reported revenue represents a surprise of -1.26% over the Zacks Consensus Estimate of $158.5 million. With the consensus EPS estimate being $0.87, the company has not delivered EPS surprise.
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 Merchants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 63.3% versus the three-analyst average estimate of 56.8%.
Net Interest Margin (FTE): 3.2% versus 3.2% estimated by three analysts on average.
Net Charge-offs (Recoveries) as % of Average Loans (Annualized): 0.1% versus the two-analyst average estimate of 0.1%.
Average Balance - Total Earning Assets: $17.22 billion versus $16.88 billion estimated by two analysts on average.
Total Non-Interest Income: $26.44 million versus the three-analyst average estimate of $28.43 million.
Net gains and fees on sales of loans: $4.11 million versus the three-analyst average estimate of $4.83 million.
Other income: -$0.15 million versus $1.20 million estimated by two analysts on average.
Other customer fees: $0.24 million versus $0.40 million estimated by two analysts on average.
Net Interest Income (FTE): $135.92 million versus the two-analyst average estimate of $136.70 million.
Fiduciary and wealth management fees: $8.19 million versus $7.50 million estimated by two analysts on average.
Service charges on deposit accounts: $7.69 million versus the two-analyst average estimate of $8.05 million.
Derivative hedge fees: $1.05 million versus $0.50 million estimated by two analysts on average.
Shares of First Merchants have returned -5.3% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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First Merchants (FRME) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, First Merchants (FRME - Free Report) reported revenue of $156.51 million, down 9.6% over the same period last year. EPS came in at $0.87, compared to $1.19 in the year-ago quarter.
The reported revenue represents a surprise of -1.26% over the Zacks Consensus Estimate of $158.5 million. With the consensus EPS estimate being $0.87, the company has not delivered EPS surprise.
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 Merchants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 63.3% versus the three-analyst average estimate of 56.8%.
- Net Interest Margin (FTE): 3.2% versus 3.2% estimated by three analysts on average.
- Net Charge-offs (Recoveries) as % of Average Loans (Annualized): 0.1% versus the two-analyst average estimate of 0.1%.
- Average Balance - Total Earning Assets: $17.22 billion versus $16.88 billion estimated by two analysts on average.
- Total Non-Interest Income: $26.44 million versus the three-analyst average estimate of $28.43 million.
- Net gains and fees on sales of loans: $4.11 million versus the three-analyst average estimate of $4.83 million.
- Other income: -$0.15 million versus $1.20 million estimated by two analysts on average.
- Other customer fees: $0.24 million versus $0.40 million estimated by two analysts on average.
- Net Interest Income (FTE): $135.92 million versus the two-analyst average estimate of $136.70 million.
- Fiduciary and wealth management fees: $8.19 million versus $7.50 million estimated by two analysts on average.
- Service charges on deposit accounts: $7.69 million versus the two-analyst average estimate of $8.05 million.
- Derivative hedge fees: $1.05 million versus $0.50 million estimated by two analysts on average.
View all Key Company Metrics for First Merchants here>>>Shares of First Merchants have returned -5.3% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.