First Citizens BancShares (FCNCA) AI Stock Analysis

• Market Cap: $26.61B
• Dividend Yield: 0.37%
• Average Volume (3M): 91.41K
• Price to Earnings (P/E): 12.8
• Beta (1Y): 1.13
• Revenue Growth: -3.18%
• EPS Growth: -3.10%
• Country: US
• Employees: 17,191
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 44.62
• Shares Outstanding: 11,430,367
• 10 Day Avg. Volume: 97,686
• 30 Day Avg. Volume: 91,406
• PEG Ratio: -0.14
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 2.03
• P/FCF Ratio: 20.86
• Enterprise Value/Market Cap: 2.33
• Enterprise Value/Revenue: 4.27
• Enterprise Value/Gross Profit: 6.98
• Enterprise Value/Ebitda: 18.78
• 1Y Price Target: $2,115.56
• Price Target Upside: -2.42% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): 169.24
• Revenue Forecast (FY): $8.82B

• Rating: 73 Outperform
• Price Target: $2,195.00 ▲(1.24% Upside)

First Citizens BancShares shows a solid overall performance, driven by strong financial health and strategic corporate actions. The robust earnings call and recent corporate events further bolster its position. However, high leverage and potential overbought technical indicators present risks that should be monitored.

Positive Factors

Loan and Deposit Growth

Consistent loan and deposit growth indicates strong demand for the company's services, enhancing its market position and revenue base.

Branch Expansion

Acquiring new branches expands market reach and customer base, supporting long-term growth and competitive positioning.

Capital Structure Enhancement

Issuing preferred stock strengthens capital structure, providing financial flexibility to support strategic initiatives and growth.

Negative Factors

High Leverage

High leverage can increase financial risk, especially if interest rates rise or revenue growth slows, impacting long-term stability.

Increased Net Charge-offs

Rising charge-offs indicate potential credit quality issues, which could pressure profitability and necessitate tighter risk management.

Revenue Growth Challenges

Declining revenue growth suggests challenges in maintaining business momentum, which could affect future earnings potential.

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 checking, savings, money market, and time deposit accounts. Its loan product portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, and lease financing loans, as well as small business administration paycheck protection program loans; and consumer loans, such as residential and revolving mortgage, construction and land development, consumer auto, and other consumer loans. The company also offers treasury services products, cardholder and merchant services, wealth management services, and various other products and services; investment products, including annuities, discount brokerage services, and third-party mutual funds, as well as investment management and advisory services; and defined benefit and defined contribution, insurance, private banking, trust, fiduciary, philanthropy, and special asset services. The company provides its products and services through its branch network, as well as through digital banking, telephone banking, and various ATM networks. As of December 31, 2021, it operated 529 branches in Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, North Carolina, New Mexico, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin, and West Virginia. First Citizens BancShares, Inc. was founded in 1898 and is headquartered in Raleigh, North Carolina.

How the Company Makes Money

First Citizens BancShares generates revenue primarily through net interest income, which is derived from the interest earned on loans and investments minus the interest paid on deposits and other borrowings. Key revenue streams include commercial loans, residential mortgages, and consumer loans, alongside fees from various banking services such as account maintenance, transaction services, and wealth management. The company also benefits from its investment portfolio, which contributes to its interest income. Additionally, First Citizens has established partnerships with fintech companies to enhance its digital banking capabilities, driving customer acquisition and retention, which in turn supports its overall earnings growth.

First Citizens BancShares Financial Statement Overview

Summary

First Citizens BancShares shows strong profitability and cash flow generation, with a healthy net profit margin and solid cash flow growth. However, high leverage and a decline in revenue growth pose potential risks.

Income Statement

The income statement shows a mixed performance. The company experienced a decline in revenue growth rate in the TTM period, indicating potential challenges in maintaining revenue momentum. However, the net profit margin remains healthy at 16.02%, and the EBIT and EBITDA margins are also solid, reflecting good operational efficiency. The gross profit margin has decreased compared to previous years, which could suggest increased cost pressures.

Balance Sheet

The balance sheet reveals a relatively high debt-to-equity ratio of 1.76 in the TTM period, indicating significant leverage. This could pose risks if interest rates rise or if the company faces revenue challenges. The return on equity has decreased over time, suggesting reduced profitability from shareholders' investments. However, the equity ratio remains stable, indicating a balanced asset structure.

Cash Flow

The cash flow statement is strong, with a notable free cash flow growth rate of 31.67% in the TTM period, indicating improved cash generation capabilities. The free cash flow to net income ratio is healthy, suggesting effective conversion of profits into cash. However, the operating cash flow to net income ratio is low, which could imply challenges in cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.53B	14.94B	12.64B	5.10B	1.90B	1.92B
Gross Profit	8.88B	9.30B	7.58B	3.98B	1.88B	1.76B
EBITDA	3.30B	3.72B	12.02B	1.90B	844.00M	751.00M
Net Income	2.33B	2.78B	11.47B	1.10B	547.00M	492.00M
Balance Sheet
Total Assets	233.49B	223.72B	213.76B	109.30B	58.31B	49.96B
Cash, Cash Equivalents and Short-Term Investments	38.90B	56.09B	54.45B	14.54B	18.66B	11.72B
Total Debt	39.02B	37.41B	38.05B	7.00B	1.78B	1.89B
Total Liabilities	211.50B	201.49B	192.50B	99.64B	53.57B	45.73B
Stockholders Equity	21.99B	22.23B	21.25B	9.66B	4.74B	4.23B
Cash Flow
Free Cash Flow	2.03B	1.45B	1.23B	1.86B	-391.00M	243.00M
Operating Cash Flow	2.99B	2.99B	2.66B	2.79B	-284.00M	376.00M
Investing Cash Flow	-12.98B	-10.15B	2.43B	75.00M	-7.57B	-9.91B
Financing Cash Flow	10.00B	7.07B	-4.70B	-2.69B	7.83B	9.52B

First Citizens BancShares Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2168.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 2168.13 is above the 20-day moving average (MA) of 2015.49, above the 50-day MA of 1879.42, and above the 200-day MA of 1876.27, indicating a bullish trend. The MACD of 80.70 indicates Negative momentum. The RSI at 81.69 is Negative, neither overbought nor oversold. The STOCH value of 94.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FCNCA.

First Citizens BancShares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HBAN	80 Outperform	$27.92B	12.46	10.37%	3.50%	5.73%	38.39%
RF	79 Outperform	$24.16B	12.12	11.43%	3.74%	4.00%	28.54%
CFG	75 Outperform	$25.56B	16.70	6.71%	2.89%	-3.93%	40.62%
FCNCA	73 Outperform	$26.61B	12.82	10.38%	0.37%	-3.18%	-3.10%
SHG	70 Outperform	$25.09B	7.78	8.58%	2.86%	-4.88%	4.84%
KB	69 Neutral	$31.75B	7.93	9.99%	2.79%	-4.64%	24.98%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

First Citizens BancShares Corporate Events

First Citizens BancShares Closes Series D Preferred Stock Offering

On November 14, 2025, First Citizens BancShares, Inc. filed a certificate of designation for a new series of preferred stock, the 7.000% Non-Cumulative Perpetual Preferred Stock, Series D. This filing was part of an underwriting agreement with major financial institutions. The company closed a public offering of 500,000 depositary shares on November 18, 2025, each representing a 1/100th interest in a share of the Series D Preferred Stock. The Series D Preferred Stock offers a 7% annual dividend rate until December 2030 and then adjusts based on the five-year treasury rate plus 3.301%. This move is significant for First Citizens BancShares as it enhances their capital structure and could impact their market positioning by offering attractive returns to investors.

First Citizens BancShares Reports Solid Q3 2025 Earnings

First Citizens BancShares reported its third-quarter 2025 earnings, highlighting solid return metrics and growth in loans and deposits across all operating segments, particularly led by SVB Commercial. The company announced the acquisition of 138 BMO Bank branches, which is expected to enhance its liquidity and strategic initiatives, with the transaction anticipated to close in mid-2026. Financially, the company saw a slight decrease in net income compared to the previous quarter, but maintained strong capital and liquidity positions, returning $900 million to stockholders through share repurchases. The quarter also saw an increase in net interest income and noninterest income, while noninterest expenses slightly decreased. However, there was a significant increase in provision for credit losses, mainly due to an increase in net charge-offs, including a substantial charge-off on a single client.

First Citizens BancShares to Acquire 138 BMO Branches

On October 16, 2025, First Citizens Bank announced an agreement to acquire 138 branches from BMO Bank N.A. across the Midwest, Great Plains, and West regions of the U.S. The acquisition involves assuming approximately $5.7 billion in deposit liabilities and acquiring $1.1 billion in loans. This strategic move is expected to enhance First Citizens Bank’s liquidity position and expand its market presence, with the transaction anticipated to close in mid-2026, pending regulatory approvals.