Shares of Jefferies Financial Group Inc. JEF tanked 9.3% in response to lower-than-expected fourth-quarter fiscal 2021 (ended Nov 30) results. Adjusted earnings per share of $1.36 lagged the Zacks Consensus Estimate of $1.40. The bottom line, however, compared favorably with $1.11 earned in the prior-year quarter.Results were hampered by a drop in revenues. While the Investment Banking and Capital Markets segment performance was impressive, Asset Management, Merchant Banking and Corporate disappointed. Meanwhile, a decline in expenses was a plus.Results in the reported quarter excluded certain non-recurring items. After including those, net income attributable to shareholders was $324.9 million, up 5.7% year over year.In fiscal 2021, adjusted earnings of $6.29 per share missed the consensus estimate of $6.34 but were up substantially year over year. Net income (GAAP basis) was $1.67 billion, up significantly from $769.6 million in fiscal 2020.Revenues & Expenses FallQuarterly net revenues were $1.81 billion, down 2.7% year over year. Also, the top line missed the Zacks Consensus Estimate of $1.90 billion.In fiscal 2021, net revenues increased 36.1% to $8.19 billion. However, the top line lagged the consensus estimate of $8.31 billion.Total expenses for the quarter were $1.35 billion, down 5.7%. The fall was mainly due to lower compensation and benefits costs, interest expense and cost of sales.Solid Quarterly Segment PerformanceInvestment Banking and Capital Markets: Net revenues were $1.61 billion, up 4.8% from the prior-year quarter. Expenses totaled $1.08 billion, down 7.5%.Asset Management: Net revenues were $42.7 million, down 51.2% from the year-ago quarter. Expenses totaled $49.4 million, up 9.3%. Merchant Banking: Net revenues were $152.7 million, falling 34% from the prior-year quarter. Expenses were $175.2 million, down 9.1%.Corporate: Net revenues were $0.8 million, down 42.7% from the prior-year period. Expenses were $12.3 million, down 40.5%.Share Repurchase UpdateDuring the fiscal fourth quarter, Jefferies repurchased 2 million shares for $88 million.The company’s board of directors increased the share buyback authorization by $88 million to a total of $250 million.Dividend HikeConcurrently, Jefferies announced a quarterly cash dividend of 30 cents per share, representing a 20% hike from the prior payout. The dividend will be paid out on Feb 25 to shareholders of record as on Feb 14.Our ViewpointSteady improvement in underwriting and advisory businesses, and lower expenses will keep supporting Jefferies’ financials. However, challenging market conditions for fixed income trading operations are a concern. Jefferies Financial Group Inc. Price, Consensus and EPS Surprise Jefferies Financial Group Inc. price-consensus-eps-surprise-chart | Jefferies Financial Group Inc. QuoteCurrently, Jefferies sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Earnings Dates & Expectations of Other BanksJPMorgan JPM is slated to report fourth-quarter 2021 results on Jan 14.Over the past 30 days, the Zacks Consensus Estimate for JPMorgan’s quarterly earnings has moved 2.3% upward to $3.01. This indicates a 20.6% decline from the prior-year quarter.Citigroup C is scheduled to announce quarterly numbers on Jan 14.Over the past 30 days, the Zacks Consensus Estimate for Citigroup’s quarterly earnings has moved 13.9% lower to $1.61, suggesting a 22.2% fall from the prior-year reported number.Bank of America BAC is scheduled to announce quarterly numbers on Jan 19.Over the past 30 days, the Zacks Consensus Estimate for Bank of America’s quarterly earnings has moved 2.6% south to 96 cents, calling for a 28.8% jump from the prior-year reported number. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>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 Bank of America Corporation (BAC): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Citigroup Inc. (C): Free Stock Analysis Report Jefferies Financial Group Inc. (JEF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research