CrossFirst (CFB) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, CrossFirst Bankshares (CFB) reported revenue of $60.32 million, up 18.5% over the same period last year. EPS came in at $0.35, compared to $0.31 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $61.72 million, representing a surprise of -2.26%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.35.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how CrossFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total non-performing assets: $13.30 million versus $11.40 million estimated by two analysts on average.
Net charge-offs / Avg. loans: 0.04% compared to the 0.14% average estimate based on two analysts.
Adjusted Efficiency Ratio - FTE: 57.27% compared to the 57.78% average estimate based on two analysts.
Total non-performing loans: $12.90 million versus $11.35 million estimated by two analysts on average.
Net interest margin: 3.23% versus 3.48% estimated by two analysts on average.
Average interest earning assets: $6.77 billion versus the two-analyst average estimate of $6.71 billion.
Net interest income: $54.54 million versus the two-analyst average estimate of $57.28 million.
Net interest income (FTE): $55.29 million versus $58.07 million estimated by two analysts on average.
Non-interest income: $5.78 million versus $4.44 million estimated by two analysts on average.
View all Key Company Metrics for CrossFirst here>>>
Shares of CrossFirst have returned -1.3% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CrossFirst Bankshares, Inc. (CFB) : Free Stock Analysis Report
