NasdaqGS:FCNC.A

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

Fundamentals

Flawless balance sheet with proven track record.


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


Market Performance


7 Day Return

3.1%

FCNC.A

2.9%

US Banks

0.07%

US Market


1 Year Return

16.8%

FCNC.A

8.6%

US Banks

8.9%

US Market

Return vs Industry: FCNC.A exceeded the US Banks industry which returned 8.6% over the past year.

Return vs Market: FCNC.A exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

FCNC.AIndustryMarket
7 Day3.1%2.9%0.07%
30 Day4.2%3.4%-0.3%
90 Day6.9%2.1%-1.6%
1 Year17.2%16.8%11.8%8.6%11.3%8.9%
3 Year69.9%68.1%54.8%44.1%46.3%36.8%
5 Year111.9%107.7%70.2%51.6%62.1%44.3%

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

Valuation

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

13.15x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FCNC.A ($494.35) is trading above our estimate of fair value ($403.36)

Significantly Below Fair Value: FCNC.A is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FCNC.A is poor value based on its PE Ratio (13.1x) compared to the Banks industry average (12.6x).

PE vs Market: FCNC.A is good value based on its PE Ratio (13.1x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FCNC.A is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


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?

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCNC.A's forecast earnings growth (3.8% per year) is above the savings rate (2.7%).

Earnings vs Market: FCNC.A's earnings (3.8% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: FCNC.A's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if FCNC.A's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if FCNC.A's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FCNC.A's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

23.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FCNC.A's earnings have grown significantly by 23.1% per year over the past 5 years.

Accelerating Growth: FCNC.A's earnings growth over the past year (38.9%) exceeds its 5-year average (23.1% per year).

Earnings vs Industry: FCNC.A earnings growth over the past year (38.9%) exceeded the Banks industry 29.7%.


Return on Equity

High ROE: FCNC.A's Return on Equity (12.2%) is considered low.


Return on Assets

ROA vs Industry: FCNC.A has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate FCNC.A's Return on Capital Employed to determine if it has improved over the past 3 years.


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: FCNC.A has a low level of unsold assets or inventory.

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


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: FCNC.A has an appropriate level of bad loans (0.39%)


Next Steps

Dividend

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

0.32%

Current Dividend Yield


Dividend Yield vs Market

company0.3%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: FCNC.A's dividend (0.32%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: FCNC.A's dividend (0.32%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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

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


Current Payout to Shareholders

Dividend Coverage: FCNC.A is not paying a notable dividend for the US market.


Future Payout to Shareholders

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


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Frank Holding (58yo)

11.8yrs

Tenure

US$2,808,424

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 ($USD2.81M) is below average for companies of similar size in the US market ($USD6.88M).

Compensation vs Earnings: Frank's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.0yrs

Average Tenure

56yo

Average Age

Experienced Management: FCNC.A's management team is seasoned and experienced (5 years average tenure).


Board Age and Tenure

9.7yrs

Average Tenure

65.5yo

Average Age

Experienced Board: FCNC.A's board of directors are considered experienced (9.7 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$4,720,02313 Sep 19
Peter Bristow
EntityIndividual
Role
Member of the Board of Directors
President
Shares10,000
Max PriceUS$472.05
BuyUS$34,16028 Aug 19
Robert Hoppe
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares80
Max PriceUS$427.00
SellUS$4,565,05008 Jul 19
Peter Bristow
EntityIndividual
Role
Member of the Board of Directors
President
Shares10,000
Max PriceUS$457.99
SellUS$9,030,00002 Jul 19
Peter Bristow
EntityIndividual
Role
Member of the Board of Directors
President
Shares20,000
Max PriceUS$454.00
BuyUS$88006 Jun 19
Craig Nix
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2
Max PriceUS$439.90
SellUS$4,480,00223 May 19
Peter Bristow
EntityIndividual
Role
Member of the Board of Directors
President
Shares10,000
Max PriceUS$448.02
BuyUS$9,87525 Mar 19
Harold Durham
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares25
Max PriceUS$395.00
BuyUS$35,26806 Feb 19
Craig Nix
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares84
Max PriceUS$419.86
SellUS$9,15729 Jan 19
Daniel Heavner
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares25
Max PriceUS$366.28
BuyUS$18,92502 Jan 19
Harold Durham
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares50
Max PriceUS$378.50
SellUS$3,406,76503 Dec 18
Southern BancShares NC Inc., Asset Management Arm
EntityCompany
Shares7,969
Max PriceUS$432.25
SellUS$229,39228 Nov 18
Southern BancShares NC Inc., Asset Management Arm
EntityCompany
Shares531
Max PriceUS$432.00
SellUS$870,00021 Nov 18
Southern BancShares NC Inc., Asset Management Arm
EntityCompany
Shares2,000
Max PriceUS$435.00
SellUS$873,00016 Nov 18
Southern BancShares NC Inc., Asset Management Arm
EntityCompany
Shares2,000
Max PriceUS$438.00
BuyUS$98,27205 Nov 18
Daniel Heavner
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares230
Max PriceUS$427.27
BuyUS$21,48401 Nov 18
Harold Durham
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares50
Max PriceUS$429.68
BuyUS$42,25001 Nov 18
Craig Nix
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares99
Max PriceUS$428.55

Ownership Breakdown


Management Team

  • Frank Holding (58yo)

    Chairman & CEO

    • Tenure: 11.8yrs
    • Compensation: US$2.81m
  • Ed Willingham (64yo)

    Chief Operating Officer

    • Tenure: 5yrs
    • Compensation: US$1.64m
  • Hope Bryant (56yo)

    Vice Chairman & Corporate Sales Executive

    • Tenure: 8.8yrs
    • Compensation: US$1.63m
  • Jeff Ward (58yo)

    Chief Strategy Officer

    • Tenure: 5yrs
  • Craig Nix (47yo)

    Chief Financial Officer

    • Tenure: 4.9yrs
    • Compensation: US$1.23m
  • Peter Bristow (53yo)

    President

    • Tenure: 5yrs
    • Compensation: US$1.66m
  • Ricky Holland (65yo)

    Chief Credit Officer of First-Citizens Bank & Trust Co. and EVP of First-Citizens Bank & Trust Co.

    • Tenure: 12yrs
  • Lorie Rupp (54yo)

    Chief Risk Officer

    • Tenure: 6.6yrs
  • Jason Grooters (43yo)

    Assistant VP & Chief Accounting Officer

    • Tenure: 2.6yrs
  • Bridget Welborn

    Corporate Secretary

    • Tenure: 0yrs

Board Members

  • Frank Holding (58yo)

    Chairman & CEO

    • Tenure: 11.8yrs
    • Compensation: US$2.81m
  • John Alexander (70yo)

    Independent Director

    • Tenure: 29.8yrs
    • Compensation: US$119.50k
  • Hope Bryant (56yo)

    Vice Chairman & Corporate Sales Executive

    • Tenure: 8.8yrs
    • Compensation: US$1.63m
  • Robert Newcomb (59yo)

    Lead Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$165.00k
  • Victor Bell (63yo)

    Independent Director

    • Tenure: 17.8yrs
    • Compensation: US$130.00k
  • Peter Bristow (53yo)

    President

    • Tenure: 5yrs
    • Compensation: US$1.66m
  • Lee Durham (70yo)

    Independent Director

    • Tenure: 16.8yrs
    • Compensation: US$181.00k
  • Daniel Heavner (72yo)

    Independent Director

    • Tenure: 12.5yrs
    • Compensation: US$126.00k
  • Floyd Keels (71yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: US$116.50k
  • Robert Hoppe (68yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: US$146.00k

Company Information

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


Key Information

  • Name: First Citizens BancShares, Inc.
  • Ticker: FCNC.A
  • Exchange: NasdaqGS
  • Founded: 1898
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$5.405b
  • Shares outstanding: 11.06m
  • 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

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. I ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:35
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.