First Citizens BancShares Q1 adjusted EPS beats estimates

First Citizens BancShares

23/04/2026 11:41

Overview

US banking firm's Q1 adjusted EPS and adjusted net income beat analyst expectations

Company repurchased $900 mln in shares and prepaid $2.50 bln of debt

Q1 deposit and loan balances increased, while net interest margin declined

Outlook

Company did not provide specific guidance or forecasts for future quarters or the full yr

Result Drivers

NET INTEREST INCOME DECLINE - Lower yields on loans, investment securities, and deposits at banks led to a decrease in net interest income from the prior quarter, partially offset by higher average balances

NONINTEREST INCOME DROP - Noninterest income fell mainly due to the absence of a prior-quarter gain on tax credit investments and a decrease in the fair value of marketable equity securities, partially offset by higher deposit and lending-related fees

NONINTEREST EXPENSE DECREASE - Noninterest expense declined due to lower marketing and professional fees, though personnel costs rose with seasonal increases in benefits and payroll taxes

Company press release: ID:nPn43876Xa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$44.86
$39.41 (10 Analysts)
Q1 EPS
$42.63
Q1 Adjusted Net Income
Beat
$560 mln
$477.66 mln (7 Analysts)
Q1 Net Income
$534 mln
Q1 Net Interest Income
$1.62 bln
Q1 Net Interest Margin
3.09%
Q1 Provision For Credit Loss
$72 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for First Citizens BancShares Inc (Delaware) is $2,154.00, about 5.3% above its April 22 closing price of $2,045.85

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)