DB:FC6A

Stock Analysis Report

First Citizens BancShares

Executive Summary

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.


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has First Citizens BancShares's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FC6A's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.1%

FC6A

-7.4%

DE Banks

-0.6%

DE Market


1 Year Return

-24.7%

FC6A

-42.5%

DE Banks

-20.9%

DE Market

Return vs Industry: FC6A exceeded the German Banks industry which returned -42.5% over the past year.

Return vs Market: FC6A underperformed the German Market which returned -20.9% over the past year.


Shareholder returns

FC6AIndustryMarket
7 Day-2.1%-7.4%-0.6%
30 Day-30.7%-25.1%-20.0%
90 Day-39.6%-32.3%-26.3%
1 Year-24.4%-24.7%-40.7%-42.5%-18.6%-20.9%
3 Year-6.6%-7.6%-45.5%-48.2%-19.0%-25.8%
5 Year21.1%18.8%-46.0%-56.8%-21.1%-31.8%

Price Volatility Vs. Market

How volatile is First Citizens BancShares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is First Citizens BancShares undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FC6A (€284) is trading below our estimate of fair value (€689.94)

Significantly Below Fair Value: FC6A is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FC6A is good value based on its PE Ratio (7.1x) compared to the Banks industry average (15x).

PE vs Market: FC6A is good value based on its PE Ratio (7.1x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FC6A's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FC6A is overvalued based on its PB Ratio (0.9x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is First Citizens BancShares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.1%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Citizens BancShares has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has First Citizens BancShares performed over the past 5 years?

20.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FC6A has high quality earnings.

Growing Profit Margin: FC6A's current net profit margins (27%) are higher than last year (25.8%).


Past Earnings Growth Analysis

Earnings Trend: FC6A's earnings have grown significantly by 20.7% per year over the past 5 years.

Accelerating Growth: FC6A's earnings growth over the past year (14.3%) is below its 5-year average (20.7% per year).

Earnings vs Industry: FC6A earnings growth over the past year (14.3%) exceeded the Banks industry 0.7%.


Return on Equity

High ROE: FC6A's Return on Equity (12.8%) is considered low.


Next Steps

Financial Health

How is First Citizens BancShares's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FC6A has a low level of unsold assets or inventory.

Debt Coverage by Assets: FC6A's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: FC6A's level of assets compared to its equity is moderate.

Allowance for Bad Loans: FC6A has a sufficient allowance for bad loans.

Low Risk Liabilities: FC6A's liabilities are made up of primarily low risk sources of funding.

Loan Level: FC6A has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FC6A's loans are broadly funded by customer deposits.

Level of Bad Loans: FC6A has an appropriate level of bad loans (0.42%)


Next Steps

Dividend

What is First Citizens BancShares's current dividend yield, its reliability and sustainability?

0.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FC6A's dividend (0.55%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.71%).

High Dividend: FC6A's dividend (0.55%) is low compared to the top 25% of dividend payers in the German market (4.85%).


Stability and Growth of Payments

Stable Dividend: FC6A is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: FC6A is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: FC6A is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FC6A's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average management tenure


CEO

Frank Holding (58yo)

12.25s

Tenure

US$4,024,342

Compensation

Mr. Frank Brown Holding, Jr., has been Chairman of First Citizens BancShares, Inc., a banking and investment services company, since February 25, 2009 and also has been its Chief Executive Officer since Ja ...


CEO Compensation Analysis

Compensation vs Market: Frank's total compensation ($USD4.02M) is about average for companies of similar size in the German market ($USD3.30M).

Compensation vs Earnings: Frank's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Frank Holding
Chairman & CEO12.25yrsUS$4.02m26.74% $748.3m
Hope Bryant
Vice Chairman & Corporate Sales Executive9.25yrsUS$2.48m5.76% $161.2m
Peter Bristow
President5.5yrsUS$2.47m5.92% $165.6m
Craig Nix
Chief Financial Officer5.42yrsUS$2.09m0.0036% $100.2k
Jason Grooters
Assistant VP & Chief Accounting Officer3.08yrsno datano data
Jeffery Ward
Chief Strategy Officer5.5yrsno data0.0019% $53.2k
Lorie Rupp
Chief Risk Officer7.08yrsno datano data
Bridget Welborn
Corporate Secretaryno datano datano data
Ricky Holland
Chief Credit Officer of First-Citizens Bank & Trust Co. and EVP of First-Citizens Bank & Trust Co.12.5yrsno datano data
Erin Goodson
Manager of Financial Accountingno datano datano data

5.5yrs

Average Tenure

55yo

Average Age

Experienced Management: FC6A's management team is seasoned and experienced (5.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Frank Holding
Chairman & CEO12.25yrsUS$4.02m26.74% $748.3m
Hope Bryant
Vice Chairman & Corporate Sales Executive9.25yrsUS$2.48m5.76% $161.2m
Peter Bristow
President5.5yrsUS$2.47m5.92% $165.6m
John Alexander
Independent Director30.25yrsUS$127.50k0.012% $344.7k
Robert Newcomb
Lead Independent Director2.25yrsUS$171.00k0.0071% $199.8k
Victor Bell
Independent Director18.25yrsUS$132.00k0.15% $4.3m
Harold Durham
Independent Director17.25yrsUS$189.50k0.0076% $212.9k
Daniel Heavner
Independent Director13yrsUS$133.50k0.0061% $170.4k
Robert Mason
Independent Director13yrsUS$123.50k0.0052% $146.3k
Robert Hoppe
Independent Director5.5yrsUS$149.50k0.0027% $74.4k

12.1yrs

Average Tenure

62yo

Average Age

Experienced Board: FC6A's board of directors are seasoned and experienced ( 12.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FC6A insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Citizens BancShares, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Citizens BancShares, Inc.
  • Ticker: FC6A
  • Exchange: DB
  • Founded: 1898
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$3.019b
  • Listing Market Cap: US$2.798b
  • Shares outstanding: 10.51m
  • Website: https://www.firstcitizens.com

Number of Employees


Location

  • First Citizens BancShares, Inc.
  • 4300 Six Forks Road
  • Raleigh
  • North Carolina
  • 27609
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FCNC.ANasdaqGS (Nasdaq Global Select)YesClass A Common StockUSUSDOct 1986
FCNC.BOTCPK (Pink Sheets LLC)Class B Common StockUSUSDOct 1986
FC6ADB (Deutsche Boerse AG)YesClass A Common StockDEEUROct 1986
FCNC.PNasdaqGS (Nasdaq Global Select)5.375 DEP PFD AUSUSDMar 2020

Biography

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. Its deposit products include checking, savings, money market and time deposit accounts. The company’s loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, and consumer loans. It also offers treasury services products, cardholder and merchant services, wealth management services, and various other products and services; investment services, including annuities, discount brokerage services, and third-party mutual funds, as well as investment management and advisory services; and defined benefit and defined contribution, private banking, trust, fiduciary, philanthropy, and special asset services. The company offers its products and services through its branch network, as well as through digital banking, telephone banking, and various ATM networks. As of December 31, 2018, it operated 551 branches in Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Minnesota, Missouri, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, and Wisconsin. The company was founded in 1898 and is headquartered in Raleigh, North Carolina. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 03:45
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.