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First Citizens BancShares

DB:FC6A
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FC6A
DB
$5B
Market Cap
  1. Home
  2. DE
  3. Banks
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 last earnings update was 62 days ago. More info.


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FC6A Share Price and Events
7 Day Returns
0.4%
DB:FC6A
3.4%
DE Banks
1.5%
DE Market
1 Year Returns
9.9%
DB:FC6A
-24.3%
DE Banks
-6.2%
DE Market
FC6A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Citizens BancShares (FC6A) 0.4% 7.9% 4.9% 9.9% 67.9% 130.9%
DE Banks 3.4% 12% 14.8% -24.3% -2.2% -23%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • FC6A outperformed the Banks industry which returned -24.3% over the past year.
  • FC6A outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
FC6A
Industry
5yr Volatility vs Market

FC6A Value

 Is First Citizens BancShares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Citizens BancShares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Citizens BancShares.

DB:FC6A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $269.75 * 9.5%
$25.51
Book Value of Equity per Share Median Book Value from the past 5 years. $269.75
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:FC6A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 21%) (18.14%))
0.784
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:FC6A using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Citizens BancShares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:FC6A Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.5% – 5%) * $269.75)
$12.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $12.03 / (5% - 0.23%)
$252.33
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $269.75 + $252.33
$522.08
DB:FC6A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:FC6A represents 0.85963x of NasdaqGS:FCNC.A
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.85963x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 522.08 x 0.85963
€448.80
Value per share (EUR) From above. €448.80
Current discount Discount to share price of €380.60
= -1 x (€380.60 - €448.80) / €448.80
15.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Citizens BancShares is available for.
Intrinsic value
15%
Share price is €380.6 vs Future cash flow value of €448.8
Current Discount Checks
For First Citizens BancShares to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Citizens BancShares's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • First Citizens BancShares's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Citizens BancShares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Citizens BancShares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FC6A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $33.53
NasdaqGS:FCNC.A Share Price ** NasdaqGS (2019-04-23) in USD $442.75
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.05x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Citizens BancShares.

DB:FC6A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FCNC.A Share Price ÷ EPS (both in USD)

= 442.75 ÷ 33.53

13.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Citizens BancShares is good value based on earnings compared to the DE Banks industry average.
  • First Citizens BancShares is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does First Citizens BancShares's expected growth come at a high price?
Raw Data
DB:FC6A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-7.1%per year
Europe Banks Industry PEG Ratio Median Figure of 112 Publicly-Listed Banks Companies 0.83x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Citizens BancShares, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Citizens BancShares's assets?
Raw Data
DB:FC6A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $300.04
NasdaqGS:FCNC.A Share Price * NasdaqGS (2019-04-23) in USD $442.75
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.91x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:FC6A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FCNC.A Share Price ÷ Book Value per Share (both in USD)

= 442.75 ÷ 300.04

1.48x

* Primary Listing of First Citizens BancShares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Citizens BancShares is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess First Citizens BancShares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Citizens BancShares has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FC6A Future Performance

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

  • No analysts cover First Citizens BancShares, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Citizens BancShares expected to grow at an attractive rate?
  • First Citizens BancShares's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • First Citizens BancShares's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare First Citizens BancShares's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:FC6A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FC6A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -7.1%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:FC6A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FC6A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,554 766 400
2018-09-30 1,656 683 365
2018-06-30 1,617 681 315
2018-03-31 1,572 672 356
2017-12-31 1,409 355 324
2017-09-30 1,386 311 322
2017-06-30 1,370 327 306
2017-03-31 1,374 293 241
2016-12-31 1,266 231 225
2016-09-30 1,350 259 216
2016-06-30 1,354 250 220
2016-03-31 1,339 245 195

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Citizens BancShares's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if First Citizens BancShares is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:FC6A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from First Citizens BancShares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FC6A Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 33.53
2018-09-30 30.44
2018-06-30 26.23
2018-03-31 29.67
2017-12-31 26.96
2017-09-30 26.81
2017-06-30 25.51
2017-03-31 20.07
2016-12-31 18.77
2016-09-30 17.95
2016-06-30 18.33
2016-03-31 16.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Citizens BancShares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Citizens BancShares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Citizens BancShares has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FC6A Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Citizens BancShares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Citizens BancShares has delivered over 20% year on year earnings growth in the past 5 years.
  • First Citizens BancShares's 1-year earnings growth exceeds its 5-year average (23.6% vs 22.2%)
  • First Citizens BancShares's earnings growth has exceeded the DE Banks industry average in the past year (23.6% vs 5.5%).
Earnings and Revenue History
First Citizens BancShares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Citizens BancShares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FC6A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,554.03 400.31 899.64
2018-09-30 1,656.09 365.25 850.09
2018-06-30 1,616.98 314.99 835.72
2018-03-31 1,572.47 356.36 823.22
2017-12-31 1,408.98 323.75 835.65
2017-09-30 1,385.83 322.04 791.39
2017-06-30 1,369.57 306.38 773.61
2017-03-31 1,373.78 241.03 752.95
2016-12-31 1,266.35 225.48 762.41
2016-09-30 1,349.63 215.54 731.90
2016-06-30 1,353.65 220.09 730.36
2016-03-31 1,338.72 195.30 739.21
2015-12-31 1,327.64 210.39 746.31
2015-09-30 1,350.24 230.53 739.67
2015-06-30 1,244.52 201.08 700.55
2015-03-31 1,150.63 183.24 651.31
2014-12-31 1,053.52 138.56 606.50
2014-09-30 950.29 102.06 571.55
2014-06-30 965.79 116.54 565.22
2014-03-31 983.97 133.76 562.71
2013-12-31 1,039.82 166.87 558.95
2013-09-30 1,028.84 162.22 554.04
2013-06-30 1,019.63 160.76 548.07
2013-03-31 1,004.92 154.44 544.83
2012-12-31 964.36 132.40 539.41
2012-09-30 978.53 143.15 541.29
2012-06-30 977.47 185.05 539.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Citizens BancShares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Citizens BancShares used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if First Citizens BancShares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Citizens BancShares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Citizens BancShares has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FC6A Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Citizens BancShares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Citizens BancShares Company Filings, last reported 3 months ago.

DB:FC6A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,488.95 892.15 327.44
2018-09-30 3,499.01 985.24 262.53
2018-06-30 3,446.89 855.35 260.53
2018-03-31 3,372.11 749.17 248.14
2017-12-31 3,334.06 1,564.05 336.15
2017-09-30 3,313.83 1,545.40 296.39
2017-06-30 3,239.85 1,664.47 556.77
2017-03-31 3,100.70 1,523.09 502.27
2016-12-31 3,012.43 1,436.43 539.74
2016-09-30 3,083.75 1,570.48 495.71
2016-06-30 3,035.70 1,579.07 507.57
2016-03-31 2,961.19 1,469.05 457.76
2015-12-31 2,872.11 1,300.32 534.09
2015-09-30 2,862.53 1,467.51 546.44
2015-06-30 2,793.89 1,201.85 514.40
2015-03-31 2,765.38 1,413.79 495.90
2014-12-31 2,687.59 1,342.84 604.18
2014-09-30 2,166.71 1,116.92 400.99
2014-06-30 2,149.15 1,109.00 566.95
2014-03-31 2,104.83 1,064.60 543.47
2013-12-31 2,071.46 1,029.41 533.60
2013-09-30 1,982.06 1,123.31 569.12
2013-06-30 1,939.33 1,033.45 542.65
2013-03-31 1,918.58 1,026.94 460.22
2012-12-31 1,864.01 1,023.82 639.73
2012-09-30 1,974.12 1,161.11 606.11
2012-06-30 1,929.79 1,356.00 571.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Citizens BancShares has an acceptable proportion of non-loan assets held.
  • First Citizens BancShares's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Citizens BancShares are broadly funded by customer deposits.
  • First Citizens BancShares's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • First Citizens BancShares has a sufficient allowance for bad loans.
  • First Citizens BancShares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Citizens BancShares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Citizens BancShares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FC6A Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.36%
Current annual income from First Citizens BancShares dividends.
If you bought €2,000 of First Citizens BancShares shares you are expected to receive €7 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Citizens BancShares's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • First Citizens BancShares's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:FC6A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:FC6A Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-30 1.600 0.379
2018-10-25 1.600 0.393
2018-07-26 1.400 0.312
2018-04-25 1.400 0.328
2018-01-31 1.400 0.329
2017-10-25 1.400 0.337
2017-07-26 1.200 0.334
2017-04-26 1.200 0.336
2016-10-26 1.200 0.348
2016-07-27 1.200 0.427
2016-04-27 1.200 0.473
2016-01-27 1.200 0.492
2015-10-28 1.200 0.480
2015-07-29 1.200 0.509
2015-04-28 1.200 0.478
2015-01-27 1.200 0.475
2014-10-28 1.200 0.487
2014-08-08 1.200 0.540
2014-04-29 1.200 0.520
2014-01-28 1.200 0.525
2013-10-22 1.200 0.548
2013-07-23 1.200 0.580
2013-04-23 1.200 0.611
2013-01-29 1.200 0.666
2012-10-23 1.200 0.720
2012-07-23 1.200 0.726
2012-04-23 1.200 0.716
2012-01-23 1.200 0.676
2011-10-24 1.200 0.702
2011-07-25 1.200 0.775
2011-04-25 1.200 0.633
2011-01-24 1.200 0.597
2010-10-25 1.200 0.639
2010-07-26 1.200 0.652
2010-04-26 1.200 0.605
2010-01-25 1.200 0.632
2009-11-05 1.200 0.740
2009-07-27 1.200 0.807
2009-04-27 1.200 0.915
2009-04-24 1.200 0.953

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Citizens BancShares is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • First Citizens BancShares is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of First Citizens BancShares's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of First Citizens BancShares's dividends as it is not paying a notable one for Germany.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Citizens BancShares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Citizens BancShares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Citizens BancShares has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FC6A Management

 What is the CEO of First Citizens BancShares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Frank Holding
COMPENSATION $2,808,424
AGE 57
TENURE AS CEO 11.3 years
CEO Bio

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 January 25, 2008 and Director since 1993. From 1994 to February 2009, Mr. Holding served as President of First Citizens BancShares, Inc. Mr. Holding has held a variety of other senior management positions at First Citizens BancShares, Inc. since joining that company in 1983. He serves as Chairman and Trustee of Blue Cross and Blue Shield of North Carolina (since 2002) and a Director of Mt. Olive Pickle Company (since 2006). Mr. Holding was a Director of Heritage Bancshares, Inc. from 2002 to 2013 and also served as the Chairman of the North Carolina Chamber of Commerce. Mr. Holding is a Member of the Board of Trustees of Wake Forest University. He serves as a Director of Institute for Defense and Business and Global Transpark Foundation. Mr. Holding holds a bachelor’s degree in business administration from the University of North Carolina at Chapel Hill and an MBA from the Wharton School of the University of Pennsylvania.

CEO Compensation
  • Frank's compensation has been consistent with company performance over the past year.
  • Frank's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the First Citizens BancShares management team in years:

4.5
Average Tenure
55
Average Age
  • The tenure for the First Citizens BancShares management team is about average.
Management Team

Frank Holding

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
57
TENURE
11.3 yrs

Hope Bryant

TITLE
Vice Chairman & Corporate Sales Executive
COMPENSATION
$2M
AGE
55

Peter Bristow

TITLE
President
COMPENSATION
$2M
AGE
52
TENURE
4.5 yrs

Craig Nix

TITLE
Chief Financial Officer
COMPENSATION
$1M
AGE
46
TENURE
4.4 yrs

Ed Willingham

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
63
TENURE
4.5 yrs

Jason Grooters

TITLE
Assistant VP & Chief Accounting Officer
AGE
42
TENURE
2.1 yrs

Jeff Ward

TITLE
Chief Strategy Officer
AGE
57
TENURE
4.5 yrs

Lorie Rupp

TITLE
Chief Risk Officer
AGE
53
TENURE
6.1 yrs

Bridget Welborn

TITLE
Corporate Secretary

Ricky Holland

TITLE
Chief Credit Officer of First-Citizens Bank & Trust Co. and EVP of First-Citizens Bank & Trust Co.
AGE
64
TENURE
11.5 yrs
Board of Directors Tenure

Average tenure and age of the First Citizens BancShares board of directors in years:

9.2
Average Tenure
64.5
Average Age
  • The tenure for the First Citizens BancShares board of directors is about average.
Board of Directors

Frank Holding

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
57
TENURE
10.2 yrs

Hope Bryant

TITLE
Vice Chairman & Corporate Sales Executive
COMPENSATION
$2M
AGE
55
TENURE
8.3 yrs

Peter Bristow

TITLE
President
COMPENSATION
$2M
AGE
52
TENURE
4.5 yrs

Robert Newcomb

TITLE
Lead Independent Director
COMPENSATION
$165K
AGE
58
TENURE
1.3 yrs

Lee Durham

TITLE
Director
COMPENSATION
$181K
AGE
69
TENURE
16.3 yrs

Daniel Heavner

TITLE
Director
COMPENSATION
$126K
AGE
71
TENURE
12 yrs

Robert Hoppe

TITLE
Director
COMPENSATION
$146K
AGE
67
TENURE
4.5 yrs

John Alexander

TITLE
Director
COMPENSATION
$120K
AGE
69
TENURE
29.3 yrs

Victor Bell

TITLE
Independent Director
COMPENSATION
$130K
AGE
62
TENURE
17.3 yrs

Floyd Keels

TITLE
Director
COMPENSATION
$117K
AGE
70
TENURE
4.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by First Citizens BancShares insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Mar 19 Buy Harold Durham Individual 22. Mar 19 22. Mar 19 25 €349.73 €8,743
06. Feb 19 Buy Craig Nix Individual 06. Feb 19 06. Feb 19 84 €369.01 €30,997
29. Jan 19 Sell Daniel Heavner Individual 20. Dec 18 20. Dec 18 -25 €320.82 €-8,021
02. Jan 19 Buy Harold Durham Individual 02. Jan 19 02. Jan 19 50 €333.31 €16,665
03. Dec 18 Sell Southern BancShares NC Inc., Asset Management Arm Company 29. Nov 18 30. Nov 18 -7,969 €381.77 €-3,008,855
28. Nov 18 Sell Southern BancShares NC Inc., Asset Management Arm Company 26. Nov 18 26. Nov 18 -531 €380.94 €-202,278
21. Nov 18 Sell Southern BancShares NC Inc., Asset Management Arm Company 19. Nov 18 19. Nov 18 -2,000 €379.80 €-759,597
16. Nov 18 Sell Southern BancShares NC Inc., Asset Management Arm Company 15. Nov 18 16. Nov 18 -2,000 €384.08 €-765,534
05. Nov 18 Buy Daniel Heavner Individual 01. Nov 18 01. Nov 18 230 €375.01 €86,253
01. Nov 18 Buy Harold Durham Individual 01. Nov 18 01. Nov 18 50 €377.13 €18,857
01. Nov 18 Buy Craig Nix Individual 31. Oct 18 31. Oct 18 99 €378.62 €37,328
06. Sep 18 Buy Craig Nix Individual 05. Sep 18 05. Sep 18 60 €406.22 €24,373
28. Jun 18 Buy Harold Durham Individual 28. Jun 18 28. Jun 18 50 €351.20 €17,560
08. May 18 Buy Robert Hoppe Individual 08. May 18 08. May 18 11 €368.88 €4,058
X
Management checks
We assess First Citizens BancShares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Citizens BancShares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FC6A News

Simply Wall St News

FC6A Company Info

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. 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.

Details
Name: First Citizens BancShares, Inc.
FC6A
Exchange: DB
Founded: 1898
$4,390,040,538
11,503,005
Website: http://www.firstcitizens.com
Address: First Citizens BancShares, Inc.
4300 Six Forks Road,
Raleigh,
North Carolina, 27609,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FCNC.A Class A Common Stock Nasdaq Global Select US USD 22. Oct 1986
DB FC6A Class A Common Stock Deutsche Boerse AG DE EUR 22. Oct 1986
OTCPK FCNC.B Class B Common Stock Pink Sheets LLC US USD 22. Oct 1986
Number of employees
Current staff
Staff numbers
6,492
First Citizens BancShares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:33
End of day share price update: 2019/04/23 00:00
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.