First Citizens BancShares, Inc.
- Open
- 2102.23
- Day high
- 2112.58
- Day low
- 2077.61
- Prev close
- 2083.00
- Volume
- 84K
- Mkt cap
- $24.3B
- P/E (TTM)
- 12.1
- EPS (TTM)
- $173.58
- P/B
- 1.1
- P/S
- 1.7
- Yield
- 0.39%
- Per share
- $8.25
- ▼Insiders net selling -$3.3M over the last 3 months (28 open-market buys, 9 sales)
- 🏛Institutions mixed (13F)
First Citizens BancShares, Inc. (FCNCA) is a Financial Services company listed on NASDAQ. The stock is down 1% over the past year. Over the trailing 3 months, insiders filed 28 open-market buys and 9 sales (SEC Form 4).
First Citizens BancShares, Inc. (FCNCA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FCNCA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $39.02 | $44.86 | +15.0% | $2.2B | +3.2% |
| Jan 23, 2026 | $43.99 | $51.27 | +16.5% | $2.4B | +10.3% |
| Oct 23, 2025 | $41.87 | $44.62 | +6.6% | $2.4B | +9.6% |
| Jul 25, 2025 | $39.71 | $44.78 | +12.8% | $2.4B | +8.7% |
| Apr 24, 2025 | $37.91 | $37.79 | -0.3% | $2.3B | +4.8% |
| Jan 24, 2025 | $39.32 | $45.10 | +14.7% | $2.4B | +7.0% |
| Oct 24, 2024 | $47.40 | $45.87 | -3.2% | $2.4B | +2.2% |
| Jul 25, 2024 | $44.78 | $50.87 | +13.6% | $2.4B | +6.3% |
| Apr 25, 2024 | $43.34 | $52.92 | +22.1% | $2.4B | +6.7% |
| Jan 26, 2024 | $48.49 | $46.58 | -3.9% | $2.5B | +6.2% |
| Oct 26, 2023 | $47.94 | $55.92 | +16.6% | $2.6B | +9.7% |
| Aug 3, 2023 | $45.92 | $52.60 | +14.5% | $2.5B | +7.6% |
FCNCA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 43 | $1970.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 11 | $1795.12 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 45 | $1779.99 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 31 | $1730.29 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 21 | $1920.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 26 | $1990.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 15 | $1780.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 41 | $1853.92 |
| Jun 8, 2026 | Alemany Ellen Rdirector | Sell | 183 | $2033.33 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 3 | $1890.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 23 | $2030.00 |
| Jun 8, 2026 | Alemany Ellen Rdirector | Sell | 1 | $2051.11 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 60 | $1860.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 111 | $1898.00 |
| Jun 8, 2026 | HOLDING FRANK B JRdirector, 10 percent owner, officer: Chairman and CEO | Buy | 8 | $2010.00 |
Source: FCNCA SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full FCNCA insider & 13F page →First Citizens BancShares, Inc. company profile
Overview
First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a major regional banking institution founded in 1898 and headquartered in Raleigh, North Carolina. The company operates as the holding company for First-Citizens Bank & Trust Company, providing comprehensive banking services across 19 states through over 500 branches. First Citizens has grown significantly through strategic acquisitions, most notably the 2021 merger with CIT Group and the 2023 acquisition of Silicon Valley Bank's (SVB) assets, which transformed it into one of the largest regional banks in the United States with over $220 billion in total assets.
Business
First Citizens operates as a full-service regional bank providing traditional banking services to individuals, businesses, and specialized commercial clients. The banking industry serves as the financial intermediary between depositors and borrowers, earning revenue primarily through the spread between interest paid on deposits and interest earned on loans. The company operates through three main business segments: 1. General Bank (approximately 40-45% of loan portfolio): This segment provides traditional retail and community banking services including personal checking and savings accounts, residential mortgages, consumer auto loans, and small business lending. It serves individual consumers and small-to-medium businesses through the branch network and digital channels. 2. Commercial Bank (approximately 35-40% of loan portfolio): This division focuses on larger commercial and industrial clients, offering commercial real estate loans, construction financing, equipment financing, and specialized industry lending particularly in energy, data centers, and infrastructure projects. It also provides treasury management services and merchant banking solutions. 3. SVB Commercial (approximately 15-20% of loan portfolio): Acquired in 2023, this segment serves the innovation economy including venture capital firms, private equity funds, technology companies, and startups. It provides specialized banking services such as fund banking, venture debt, and treasury management for high-growth companies and investment firms. This segment has unique expertise in serving 80% of venture capital firms on Forbes' Midas list. The bank also offers wealth management services, trust and fiduciary services, investment advisory services, and insurance products through its First Citizens Wealth division.
Revenue model
First Citizens generates revenue through multiple banking business models: Net Interest Income (approximately 70-75% of total revenue): The bank's primary revenue source comes from the interest rate spread between what it pays depositors and what it earns on loans and investments. The bank collects deposits from customers at relatively low interest rates and lends these funds at higher rates to borrowers, earning the difference as net interest margin. Fee-Based Income (approximately 25-30% of total revenue): This includes service charges on deposit accounts, credit card interchange fees, wealth management fees, trust and fiduciary fees, treasury services fees, and loan origination fees. The SVB segment particularly generates significant fee income from fund banking and specialized services. The bank's profitability is influenced by several key factors: Interest Rate Environment: Rising rates generally benefit the bank's net interest margin as loan yields increase faster than deposit costs, while falling rates can compress margins. The bank has some asset sensitivity, meaning earnings tend to increase when rates rise. Credit Quality: Economic downturns can increase loan losses, particularly in commercial real estate, construction, and the innovation economy segments served by SVB. The bank maintains loan loss reserves to absorb potential credit losses. Deposit Competition: Intense competition for deposits, especially in rising rate environments, can increase funding costs and pressure margins. The bank's diverse deposit base including low-cost checking accounts provides some stability. Regulatory Costs: As a large regional bank approaching $250 billion in assets, First Citizens faces increasing regulatory requirements and compliance costs, including potential Category 3 or 4 regulatory classification requiring enhanced capital and liquidity standards. The bank's customers are diverse, ranging from individual consumers and small businesses in its traditional markets to large corporations, venture capital firms, and high-growth technology companies through the SVB franchise.
Competitive moat
First Citizens possesses a moderate competitive moat built on several defensive characteristics, though it faces meaningful competitive pressures: Deposit Franchise Strength: The bank has built a substantial deposit base of over $160 billion with a significant portion in lower-cost checking and savings accounts. Deposits represent relatively stable, low-cost funding that provides a competitive advantage over institutions relying more heavily on wholesale funding. The SVB acquisition added a unique deposit franchise serving the innovation economy. Specialized Expertise: The SVB Commercial segment provides distinctive capabilities in serving venture capital, private equity, and technology companies. This specialization creates switching costs and relationship stickiness, as these clients require sophisticated banking services that few competitors can match at scale. Geographic Diversification: With operations across 19 states, First Citizens has reduced concentration risk compared to purely regional competitors, though it lacks the national scale of money center banks. Regulatory Barriers: Banking remains a heavily regulated industry with significant barriers to entry, providing some protection from new competitors. However, the moat faces several challenges: Intense Competition: The banking industry is highly competitive with pressure from larger national banks, credit unions, fintech companies, and other regional banks. Digital banking and financial technology companies increasingly compete for both deposits and lending relationships. Commoditization Risk: Traditional banking services are becoming increasingly commoditized, particularly deposit accounts and standard lending products. This reduces pricing power and margin sustainability. Regulatory Burden: Growing regulatory requirements as the bank approaches $250 billion in assets will increase compliance costs and potentially limit flexibility compared to smaller competitors. SVB Integration Risk: The success of the SVB acquisition depends on retaining clients and maintaining the specialized culture that made SVB successful in the innovation economy, which faces ongoing challenges from reduced venture capital activity. Overall, First Citizens has a moderate but not impregnable moat that provides some competitive protection but requires ongoing investment and execution to maintain.
Risks & safety
First Citizens demonstrates solid financial stability with adequate capital buffers, though it carries typical banking sector risks: • Capital Position: CET1 ratio of 13.36% (well above regulatory minimums), though management targets reducing this to 10.5% through share repurchases and organic growth • Liquidity: Strong cash position of $22.2 billion (10% of total assets), providing substantial liquidity buffer • Asset Quality: Net charge-off ratio of 35-45 basis points expected, indicating manageable credit losses • Debt Levels: Debt-to-equity ratio of 1.67, typical for banking institutions given deposit liabilities • Profitability: Strong ROE of 12.5% and ROA of 1.14%, indicating efficient capital deployment • Valuation Metrics: P/E ratio of 10.9x appears reasonable for a regional bank, P/B ratio of 1.36x suggests modest premium to book value • Dividend Coverage: Strong earnings coverage supports dividend sustainability • Integration Risk: SVB acquisition integration ongoing, requiring successful execution to realize projected synergies and maintain client relationships • Other Considerations: Regulatory uncertainty as bank approaches $250 billion threshold, potential economic sensitivity through commercial real estate and innovation economy exposure
Recent development
First Citizens has undergone significant strategic transformation over the past few years through major acquisitions and operational initiatives: SVB Acquisition and Integration: The 2023 acquisition of Silicon Valley Bank's assets represents the most significant strategic development, adding approximately $120 billion in assets and establishing First Citizens as a major player in the innovation economy. The integration has progressed successfully with over 1,000 new clients onboarded in the first year and retention of key SVB capabilities. Management expects to complete the majority of integration efforts by 2024 while maintaining SVB's specialized culture and client relationships. CIT Group Merger: The 2021 merger with CIT Group added commercial banking expertise and industry vertical specialization, particularly in equipment financing and commercial lending. The bank achieved its targeted $250 million in cost synergies and has successfully integrated CIT's capabilities across its platform. Regulatory Readiness Initiatives: As the bank approaches $250 billion in assets, management has invested heavily in regulatory infrastructure and risk management capabilities. A dedicated regulatory remediation oversight team was created, and the bank submitted capital plans to federal regulators in preparation for enhanced regulatory requirements. Capital Management Strategy: The bank approved a $3.5 billion share repurchase program in 2024, representing approximately 6.4% of outstanding shares. This reflects management's confidence in earnings generation and strategy to optimize capital levels while maintaining regulatory compliance. Digital and Operational Improvements: The bank has invested in technology infrastructure, appointed a new Chief Information and Operations Officer, and enhanced digital banking capabilities. The wealth management business was rebranded to First Citizens Wealth with expanded geographic reach. Balance Sheet Optimization: Management has focused on deposit growth strategies, particularly through the Direct Bank channel, and has worked to reduce asset sensitivity through investment portfolio adjustments and interest rate hedging.
FCNCA company profile · for informational purposes only — not investment advice.
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