Chairman and CEO Frank Holding, Jr. said: “Our team delivered solid financial results in the second quarter through revenue growth and positive credit performance across our diverse portfolio. Capital and liquidity positions remained strong, enabling us to return an additional $613 million of capital to our stockholders through share repurchases during the quarter. Also, we are pleased to announce that our Board of Directors approved an additional share repurchase plan for the repurchase of up to $4.0 billion of our Class A common shares which will commence upon completion of the $3.5 billion share repurchase plan announced in July 2024. This reflects our commitments to long-term value creation and delivering returns to our stockholders. Lastly, I am pleased that we have strengthened our leadership and governance with the appointment of Diane Morais to our Board of Directors.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCNCA:
- FCNCA Upcoming Earnings Report: What to Expect?
- First Citizens price target lowered to $2,410 from $2,460 at UBS
- First Citizens price target raised to $2,050 from $1,900 at Citi
- Palantir’s Peter Thiel Joins Tech Titans in Backing New U.S. Digital Bank Erebor
- First Citizens price target raised to $2,250 from $2,100 at JPMorgan