First Citizens BancShares (FCNCA) stock soared 5.69% in the pre-market trading session on Friday, outperforming the broader market. This surge came as the bank reported robust fourth-quarter earnings that surpassed analysts' expectations.
The Raleigh, North Carolina-based bank posted adjusted earnings per share of $45.10, beating the Zacks Consensus Estimate of $39.07. The strong performance was driven by higher-than-expected net interest income of $1.71 billion and a net interest margin of 3.32%.
Additionally, First Citizens BancShares declared a quarterly common stock dividend of $1.95 per share, maintaining its dividend payout level. The dividends will be paid on March 17, 2025, to shareholders of record as of February 28, 2025.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.