RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Thursday reported first-quarter profit of $534 million.
The Raleigh, North Carolina-based bank said it had earnings of $42.63 per share. Earnings, adjusted for non-recurring costs, were $44.86 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $39.02 per share.
The bank posted revenue of $3.48 billion in the period. Its revenue net of interest expense was $2.14 billion, missing Street forecasts. Five analysts surveyed by Zacks expected $2.17 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCNCA at https://www.zacks.com/ap/FCNCA
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