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Compared to Estimates, ServisFirst (SFBS) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, ServisFirst Bancshares (SFBS - Free Report) reported revenue of $111.31 million, down 2.9% over the same period last year. EPS came in at $0.94, compared to $1.06 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $108.14 million, representing a surprise of +2.93%. The company delivered an EPS surprise of +10.59%, with the consensus EPS estimate being $0.85.
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.
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 ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 43.3% versus 41.8% estimated by two analysts on average.
Net charge-offs (recoveries) to total average loans: 0.1% compared to the 0.1% average estimate based on two analysts.
Net Interest Margin: 2.7% versus 2.6% estimated by two analysts on average.
Average Balance - Interest-earning Assets: $15.50 billion compared to the $15.71 billion average estimate based on two analysts.
Credit card income: $2.16 million versus the two-analyst average estimate of $2.15 million.
Net Interest Income: $102.50 million compared to the $100.90 million average estimate based on two analysts.
Total Non-interest income: $8.81 million versus the two-analyst average estimate of $7.26 million.
Increase in cash surrender value life insurance (Bank-owned life insurance income): $3.23 million compared to the $1.65 million average estimate based on two analysts.
Service charges on deposit accounts: $2.15 million compared to the $2.07 million average estimate based on two analysts.
Mortgage banking: $0.68 million versus $0.64 million estimated by two analysts on average.
Other Operating Income: $0.60 million versus the two-analyst average estimate of $0.76 million.
Shares of ServisFirst have returned -5.8% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, ServisFirst (SFBS) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, ServisFirst Bancshares (SFBS - Free Report) reported revenue of $111.31 million, down 2.9% over the same period last year. EPS came in at $0.94, compared to $1.06 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $108.14 million, representing a surprise of +2.93%. The company delivered an EPS surprise of +10.59%, with the consensus EPS estimate being $0.85.
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.
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 ServisFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 43.3% versus 41.8% estimated by two analysts on average.
- Net charge-offs (recoveries) to total average loans: 0.1% compared to the 0.1% average estimate based on two analysts.
- Net Interest Margin: 2.7% versus 2.6% estimated by two analysts on average.
- Average Balance - Interest-earning Assets: $15.50 billion compared to the $15.71 billion average estimate based on two analysts.
- Credit card income: $2.16 million versus the two-analyst average estimate of $2.15 million.
- Net Interest Income: $102.50 million compared to the $100.90 million average estimate based on two analysts.
- Total Non-interest income: $8.81 million versus the two-analyst average estimate of $7.26 million.
- Increase in cash surrender value life insurance (Bank-owned life insurance income): $3.23 million compared to the $1.65 million average estimate based on two analysts.
- Service charges on deposit accounts: $2.15 million compared to the $2.07 million average estimate based on two analysts.
- Mortgage banking: $0.68 million versus $0.64 million estimated by two analysts on average.
- Other Operating Income: $0.60 million versus the two-analyst average estimate of $0.76 million.
View all Key Company Metrics for ServisFirst here>>>Shares of ServisFirst have returned -5.8% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.