-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
FCNC.A posted Q1 2026 operating EPS of $44.86 vs. $37.79 a year ago, $5.63 above the consensus, while adjusted revenue of $2.14B was flat Y/Y but down 5% Q/Q. Net interest income fell 6% Q/Q to $1.621B with the net interest margin compressing 11bps to 3.09%, disappointing as both metrics declined faster than peers. Credit performance continued improving following Q3 supply chain finance issues, with net charge-offs declining 9bps Q/Q to 0.30%. Management lowered full-year 2026 net charge-off guidance by 5bps to 30-40bps. Balance sheet momentum accelerated with deposits surging $9.3B (+5.7% Q/Q) to $170.84B, due to Commercial Bank growth of $5.7B from SVB Commercial and Global Fund Banking. Loan growth of $762M (+0.5% Q/Q) was led by $1.35B expansion in capital call lines, reflecting improving innovation economy conditions. Aggressive capital deployment continued with $900M in share repurchases (4.0% of outstanding shares) and $2.5B Purchase Money Note prepayment.