First Citizens BancShares, Inc. (FCNCA) has reported a net income available to common stockholders of $499 million, or $34.33 per share in the fourth quarter. This is a significant increase from the previous year's $243 million or $16.67 per share. The adjusted net income available to common stockholders has also gone up to $678 million, or $46.58 per share against last year's $306 million or $20.94 per share. However, nine analysts who were polled by Thomson Reuters anticipated the company to record a profit per share of $47.98 for the quarter, typically excluding special items.
There was also a rise in net revenue in the fourth quarter, reaching $2.45 billion from the previous year's $1.23 billion. Adjusted net revenue stands at $2.37 billion, in contrast to last year's $1.09 billion. On average, analysts had expected the revenue for this quarter to be $2.38 billion.
