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First Citizens BancShares (FCNCA)
NASDAQ:FCNCA
Holding FCNCA?
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$39.14Last Year’s EPS
$46.58Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 2.39%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed view with strong financial results, solid deposit growth, and successful share repurchases as positives. However, challenges such as a decline in the loan portfolio, increased net charge-offs, and higher noninterest expense presented significant headwinds.Company Guidance
During the First Citizens BancShares Q3 2024 earnings call, the company provided detailed guidance on various financial metrics. Adjusted earnings per share were reported at $45.87, with a net interest margin (NIM) of 3.53% and an ex-accretion NIM of 3.33%. The return on equity (ROE) and return on assets (ROA), adjusted for notable items, stood at 11.94% and 1.22% respectively. The adjusted pre-provision net revenue (PPNR) ROA was 1.88%, and the efficiency ratio was reported at 54%. Looking forward, the company anticipates loan growth to be in the range of $138 billion to $140 billion, representing mid-single-digit growth for the year. Deposits are expected to end the year between $150 billion and $153 billion. The guidance also included a fourth-quarter outlook for headline net interest income to decline by low to mid-single digits due to factors like lower accretion income and declining deposit costs. Additionally, the company highlighted its share repurchase program, having repurchased over 350,000 shares for approximately $700 million, which was part of a broader $3.5 billion plan.Strong Financial Results
Adjusted earnings per share for the quarter were $45.87, with resilient net interest margin and stable deposit base.
Share Repurchase Program
Repurchased 3.61% of Class A common shares and 3.36% of total common shares outstanding for $969.4 million, representing 28% of the $3.5 billion repurchase plan.
Solid Deposit Growth
Deposits grew by 0.3% or $495 million, with continued growth in the branch network and stability in the SVB Commercial segment.
Rail Segment Performance
Profitability remains on track with solid repricing trends and utilization rates, contributing to higher adjusted noninterest income.
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FCNCA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FCNCA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $2080.84 | $1878.35 | -9.73% |
| Jul 25, 2024 | $1859.16 | $2047.63 | +10.14% |
| Apr 25, 2024 | $1635.34 | $1795.64 | +9.80% |
| Jan 26, 2024 | $1407.26 | $1484.75 | +5.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Citizens BancShares (FCNCA) report earnings?
First Citizens BancShares (FCNCA) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is First Citizens BancShares (FCNCA) earnings time?
First Citizens BancShares (FCNCA) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FCNCA EPS forecast?
FCNCA EPS forecast for the fiscal quarter 2024 (Q4) is $39.14.
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