First Citizens BancShares (FCNCA)
NASDAQ:FCNCA
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First Citizens BancShares
(NASDAQ:FCNCA)
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Rating:67Neutral
Price Target:
$2,220.00
â–²(9.35% Upside)
Action:ReiteratedDate:04/23/26
The score is driven primarily by fundamentally solid but volatile financial performance (notably the 2025 revenue decline and higher leverage) and a balanced earnings outlook with margin pressure expected. These are partially offset by constructive technical momentum and a reasonable P/E, though the very low dividend yield limits valuation support.
Positive Factors
Diversified deposit & off-balance-sheet growth
Sustained deposit inflows across tech, healthcare, global fund banking and the direct bank diversify funding and deepen client relationships. Off-balance-sheet and fund-banking momentum provides fee and liquidity buffers, reducing dependence on volatile wholesale markets and supporting loan growth over the next several quarters.
Negative Factors
Net interest income and margin compression
As a spread-driven regional bank, sustained lower interest rates materially compress NIM and NII. Even with expense discipline, margin pressure reduces core earning power, constrains loan return economics and limits sustainable profitability for several quarters until rates or loan repricing restore spreads.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified deposit & off-balance-sheet growth
Sustained deposit inflows across tech, healthcare, global fund banking and the direct bank diversify funding and deepen client relationships. Off-balance-sheet and fund-banking momentum provides fee and liquidity buffers, reducing dependence on volatile wholesale markets and supporting loan growth over the next several quarters.
Read all positive factors
First Citizens BancShares (FCNCA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.12B
Dividend Yield0.37%
Average Volume (3M)92.01K
Price to Earnings (P/E)10.5
Beta (1Y)1.08
Revenue Growth-2.36%
EPS Growth-0.42%
CountryUS
Employees17,191
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)44.86
Shares Outstanding10,827,919
10 Day Avg. Volume65,977
30 Day Avg. Volume92,009
Financial Highlights & Ratios
PEG Ratio-0.96
Price to Book (P/B)1.19
Price to Sales (P/S)1.83
P/FCF Ratio12.81
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue2.25
Enterprise Value/Gross Profit3.66
Enterprise Value/Ebitda9.60
Forecast
1Y Price Target
$2,232.14Price Target Upside9.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)178.23
Revenue Forecast (FY)$8.76B
First Citizens BancShares Business Overview & Revenue Model
Company Description
First Citizens BancShares, Inc. operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include chec...
How the Company Makes Money
First Citizens BancShares primarily earns money through banking spread income and fee-based services. Its largest revenue driver is net interest income: it pays interest (and incurs funding costs) on deposits and other borrowings, and earns intere...
First Citizens BancShares Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: the firm delivered solid operational results (strong deposit growth, off-balance sheet inflows, record global fund banking production, expense discipline, and substantial buybacks/prepayments) and maintained or improved several guidance items. However, material headwinds persist from lower interest rates causing NII and NIM compression, some near-term credit concentration items and deposit composition volatility, and a deliberate moderation of buybacks to maintain capital buffers. Management emphasized disciplined capital and liquidity positioning and a confident strategic roadmap while noting ongoing macro uncertainty.Positive Updates
Strong Adjusted Earnings and Profitability Metrics
Reported adjusted EPS of $44.86 and net income of $560 million for the quarter; adjusted ROE of 10.39% and ROA of 0.97%.
Negative Updates
Net Interest Income and Margin Pressure
Net interest income declined by $101 million sequentially; net interest margin compressed 11 basis points to 3.09% due to lower earning asset yields after the Fed rate cut and a shorter day count. Management expects NIM to trough in Q3 and NII pressure for 2026, with full-year NII guidance $6.5B–$6.8B.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted Earnings and Profitability Metrics
Reported adjusted EPS of $44.86 and net income of $560 million for the quarter; adjusted ROE of 10.39% and ROA of 0.97%.
Read all positive updates
Company Guidance
First Citizens guided Q2 loans of $149–$152B and full‑year loans of $153–$157B (includes $1B BMO), Q2 deposits of $171–$174B and full‑year deposits of $181–$186B (includes $5.7B BMO), Q2 headline net interest income of $1.60–$1.67B and full‑year NII of $6.5–$6.8B (management expects a low single‑digit Y/Y decline in NII and Q1→Q4 NII up mid‑single digits), with Q2 NIM in the mid‑3% (ex‑accretion high‑2.90s), a NIM trough in Q3 and Q4 headline NIM in the high‑3% (ex‑accretion low‑3%). They expect Q2 net charge‑offs of 35–45 bps and a full‑year 30–40 bps, Q2 noninterest income of $520–$550M and full‑year adjusted noninterest income of $2.12–$2.22B, Q2 adjusted noninterest expense of $1.34–$1.38B and full‑year expense of $5.34–$5.43B (including a $20–$30M incremental brand cost), an adjusted efficiency ratio in the lower‑60% range for 2026 (long‑term mid‑50s target), a CET1 target reset to 10.0–10.5% (Q1 CET1 10.83%; proposed Basel III could add ~70–100 bps), a moderated buyback cadence after returning $900M this quarter (>$5.7B repurchased YTD, ~52% of the $4B authorization), continued FDIC note prepayments ($2.5B this quarter, $5.5B total to date) with expected paydowns of $500M–$1B/month, and a 2026 tax rate of 24.5–25.5%.First Citizens BancShares Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
61
Positive
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.50B | 14.94B | 12.64B | 5.10B | 1.90B |
| Gross Profit | 8.91B | 9.30B | 7.58B | 3.98B | 1.88B |
| EBITDA | 3.40B | 3.72B | 12.02B | 1.90B | 844.00M |
| Net Income | 2.21B | 2.78B | 11.47B | 1.10B | 547.00M |
Balance Sheet | |||||
| Total Assets | 229.70B | 223.72B | 213.76B | 109.30B | 58.31B |
| Cash, Cash Equivalents and Short-Term Investments | 20.83B | 56.09B | 54.45B | 14.54B | 18.66B |
| Total Debt | 36.01B | 37.41B | 38.05B | 7.00B | 1.78B |
| Total Liabilities | 207.46B | 201.49B | 192.50B | 99.64B | 53.57B |
| Stockholders Equity | 22.24B | 22.23B | 21.25B | 9.66B | 4.74B |
Cash Flow | |||||
| Free Cash Flow | 2.07B | 1.45B | 1.23B | 1.86B | -391.00M |
| Operating Cash Flow | 2.92B | 2.99B | 2.66B | 2.79B | -284.00M |
| Investing Cash Flow | -5.61B | -10.15B | 2.43B | 75.00M | -7.57B |
| Financing Cash Flow | 2.67B | 7.07B | -4.70B | -2.69B | 7.83B |
First Citizens BancShares Technical Analysis
Positive
2030.16
Price Trends
1944.47
Positive
2007.24
Positive
1950.62
Positive
Market Momentum
26.64
Negative
65.50
Neutral
84.87
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FCNCA, the sentiment is Positive. The current price of 2030.16 is above the 20-day moving average (MA) of 1923.02, above the 50-day MA of 1944.47, and above the 200-day MA of 1950.62, indicating a bullish trend. The MACD of 26.64 indicates Negative momentum. The RSI at 65.50 is Neutral, neither overbought nor oversold. The STOCH value of 84.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FCNCA.
First Citizens BancShares Risk Analysis
First Citizens BancShares disclosed 9 risk factors in its most recent earnings report. First Citizens BancShares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Citizens BancShares Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $24.39B | 10.08 | 11.78% | 3.74% | 2.92% | 16.52% | |
71 Outperform | $33.97B | 13.98 | 8.82% | 3.50% | 9.10% | 0.60% | |
69 Neutral | $38.80B | 7.18 | 10.27% | 2.79% | 35.44% | 7.33% | |
68 Neutral | $27.65B | 12.33 | 7.63% | 2.89% | -0.04% | 34.70% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $23.12B | 10.52 | 10.19% | 0.37% | -2.36% | -0.42% | |
65 Neutral | $31.46B | 6.55 | 8.98% | 2.86% | 46.64% | 14.25% |
* Financial Sector Average
FCNCA
First Citizens BancShares
1,985.39
149.81
8.16%
HBAN
Huntington Bancshares
16.63
2.17
14.98%
KB
Kb Financial Group
110.21
43.83
66.03%
RF
Regions Financial
28.19
7.94
39.20%
SHG
Shinhan Financial Group Co
68.35
31.54
85.68%
CFG
Citizens Financial
64.42
26.92
71.80%
First Citizens BancShares Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
First Citizens BancShares Reports Lower Q1 2026 Earnings
Negative
Apr 23, 2026
For the first quarter of 2026, reported on April 23, 2026, First Citizens BancShares posted net income of $534 million, down from $580 million in the prior quarter, as lower net interest income and margin offset loan and deposit growth. Adjusted n...
Business Operations and StrategyPrivate Placements and Financing
First Citizens BancShares Issues $500 Million Senior Notes
Positive
Mar 4, 2026
On March 3, 2026, First Citizens BancShares, Inc. issued and sold $500 million of 4.869% Fixed-to-Floating Rate Senior Notes due 2032 in a public offering, expanding its long-term funding base. The securities were sold through a syndicate led by J...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
First Citizens BancShares Completes New Series E Preferred Offering
Positive
Feb 5, 2026
On February 3, 2026, First Citizens BancShares, Inc. filed a certificate of designation in Delaware establishing a new 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, with a $1,000 per share liquidation preference, structured so that ea...
Business Operations and StrategyStock BuybackFinancial Disclosures
First Citizens BancShares Posts Strong Q4 2025 Results
Positive
Jan 23, 2026
First Citizens BancShares reported solid fourth-quarter 2025 performance, with net income rising to $580 million and adjusted net income reaching $648 million as loan growth—especially in its Global Fund Banking franchise—offset modest...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.