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Compared to Estimates, First Citizens (FCNCA) Q4 Earnings: A Look at Key Metrics
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First Citizens BancShares (FCNCA - Free Report) reported $2.45 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 99.4%. EPS of $46.58 for the same period compares to $20.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.36 billion, representing a surprise of +3.93%. The company delivered an EPS surprise of -3.94%, with the consensus EPS estimate being $48.49.
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:
Net Interest Margin: 3.9% versus the four-analyst average estimate of 3.9%.
Efficiency Ratio: 60.8% versus 50.2% estimated by four analysts on average.
Net charge-off ratio: 0.5% versus 0.6% estimated by three analysts on average.
Average Balance - Total interest-earning assets: $196.25 billion versus $194.98 billion estimated by three analysts on average.
Total non-accrual loans: $969 million versus $893.34 million estimated by two analysts on average.
Total Non Interest Income: $543 million versus the four-analyst average estimate of $522.74 million.
Net Interest Income: $1.91 billion compared to the $1.89 billion average estimate based on four analysts.
Rental income on operating lease equipment: $252 million compared to the $147.25 million average estimate based on three analysts.
Service charges on deposit accounts: $44 million versus $44 million estimated by three analysts on average.
Factoring commissions: $22 million versus the three-analyst average estimate of $21.18 million.
Merchant services, net: $12 million versus the three-analyst average estimate of $12.67 million.
Cardholder services, net: $36 million compared to the $41 million average estimate based on three analysts.
Shares of First Citizens have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.1% 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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Compared to Estimates, First Citizens (FCNCA) Q4 Earnings: A Look at Key Metrics
First Citizens BancShares (FCNCA - Free Report) reported $2.45 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 99.4%. EPS of $46.58 for the same period compares to $20.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.36 billion, representing a surprise of +3.93%. The company delivered an EPS surprise of -3.94%, with the consensus EPS estimate being $48.49.
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:
- Net Interest Margin: 3.9% versus the four-analyst average estimate of 3.9%.
- Efficiency Ratio: 60.8% versus 50.2% estimated by four analysts on average.
- Net charge-off ratio: 0.5% versus 0.6% estimated by three analysts on average.
- Average Balance - Total interest-earning assets: $196.25 billion versus $194.98 billion estimated by three analysts on average.
- Total non-accrual loans: $969 million versus $893.34 million estimated by two analysts on average.
- Total Non Interest Income: $543 million versus the four-analyst average estimate of $522.74 million.
- Net Interest Income: $1.91 billion compared to the $1.89 billion average estimate based on four analysts.
- Rental income on operating lease equipment: $252 million compared to the $147.25 million average estimate based on three analysts.
- Service charges on deposit accounts: $44 million versus $44 million estimated by three analysts on average.
- Factoring commissions: $22 million versus the three-analyst average estimate of $21.18 million.
- Merchant services, net: $12 million versus the three-analyst average estimate of $12.67 million.
- Cardholder services, net: $36 million compared to the $41 million average estimate based on three analysts.
View all Key Company Metrics for First Citizens here>>>Shares of First Citizens have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.1% 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.