Analysts on Wall Street project that First Citizens BancShares (FCNCA) will announce quarterly earnings of $37.72 per share in its forthcoming report, representing a decline of 28.7% year over year. Revenues are projected to reach $2.2 billion, declining 10% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some First Citizens metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Net Interest Margin' of 3.3%. Compared to the current estimate, the company reported 3.7% in the same quarter of the previous year.
Analysts' assessment points toward 'Efficiency Ratio' reaching 58.9%. The estimate is in contrast to the year-ago figure of 56.3%.
It is projected by analysts that the 'Average Balance - Total interest-earning assets' will reach $207.08 billion. The estimate is in contrast to the year-ago figure of $198.59 billion.
Based on the collective assessment of analysts, 'Nonaccrual loans at period end' should arrive at $1.21 billion. The estimate is in contrast to the year-ago figure of $1.07 billion.
Analysts expect 'Total nonperforming assets' to come in at $1.25 billion. The estimate compares to the year-ago value of $1.13 billion.
Analysts forecast 'Net Interest Income' to reach $1.69 billion. The estimate is in contrast to the year-ago figure of $1.82 billion.
Analysts predict that the 'Total Noninterest Income' will reach $491.06 million. The estimate is in contrast to the year-ago figure of $627 million.
The consensus among analysts is that 'Factoring commissions' will reach $19.80 million. The estimate compares to the year-ago value of $17 million.
According to the collective judgment of analysts, 'Cardholder services, net' should come in at $41.42 million. The estimate compares to the year-ago value of $40 million.
The combined assessment of analysts suggests that 'Merchant services, net' will likely reach $13.04 million. The estimate is in contrast to the year-ago figure of $12 million.
The average prediction of analysts places 'International fees' at $32.34 million. The estimate is in contrast to the year-ago figure of $28 million.
The consensus estimate for 'Client investment fees' stands at $56.64 million. The estimate is in contrast to the year-ago figure of $50 million.
View all Key Company Metrics for First Citizens here>>>
Shares of First Citizens have demonstrated returns of -7.3% over the past month compared to the Zacks S&P 500 composite's -5.6% change. With a Zacks Rank #4 (Sell), FCNCA is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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First Citizens BancShares, Inc. (FCNCA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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