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First Citizens BancShares, Inc. (FCNCA)

Valor Justo
Financial ServicesBanks - RegionalUnited States

Fundamental

70

Preço

$2060.20

Capitalização de Mercado

$23.23B

Parte 1 · Quanto vale a empresa

Visão Geral

First Citizens BancShares is a bank holding company that combines a traditional branch bank with two acquired specialty franchises: the technology and life-sciences-focused commercial bank it bought from the failed Silicon Valley Bank in 2023, and a railcar and locomotive leasing business inherited from its 2022 purchase of CIT Group. It banks everyday consumers and businesses through branches while also lending to and leasing equipment for niche industries most regional banks do not serve.

Como gera receita

Most revenue is net interest income — the spread between interest earned on loans and paid on deposits — across its General Bank branch network and its Commercial Bank division, which now includes the former SVB Commercial franchise serving technology and venture-backed clients. The Rail segment is different: it earns rental income from leasing railcars and locomotives under long-term contracts, a fee-based, noninterest-income business layered on top of the core bank.

Vantagem competitiva

Escala · Estreita

Absorbing Silicon Valley Bank's commercial banking franchise and CIT's railcar leasing fleet at scale gives First Citizens a combination of specialty lending relationships and equipment assets a typical regional bank cannot quickly assemble. The advantage rests on those inherited franchises rather than a single durable barrier, and each still competes against specialists in its own niche.

O que impulsiona a procura

Cíclico

Traditional banking revenue follows loan demand, deposit costs and interest rates like any commercial bank. The former SVB franchise adds sensitivity to the health of the technology and venture capital ecosystem specifically, while the Rail segment depends on freight and industrial shipping volumes and railcar utilization rates, a distinct cycle of its own.

Principais riscos

  • Concentration in the technology and venture capital economy — The former Silicon Valley Bank franchise concentrates deposits and lending among technology and life-sciences companies and their investors, a client base whose funding and deposit behavior can move together sharply in a downturn — the exact dynamic that caused SVB's original failure.
  • Integration of acquired franchises — The company has repeatedly reorganized how it reports the SVB Commercial and Commercial Bank segments, reflecting an ongoing integration; combining systems, risk management and client relationships across a traditional bank, a tech-focused lender and a railcar lessor carries execution risk.
  • Interest rate and credit risk — Net interest income depends on the spread between deposit costs and asset yields, and credit losses can rise if borrowers across its diverse loan book — from consumer to specialty commercial lending — face economic stress.
  • Cyclicality of the railcar leasing business — Rail segment revenue depends on freight volumes, railcar utilization and lease re-pricing, all of which track industrial and commodity shipping activity and can soften in a broader economic slowdown.

Os argumentos a favor

Buyers argue that the SVB acquisition gave First Citizens a technology-banking franchise it could not have built organically at a favorable price, that the Rail segment provides a source of noninterest income uncorrelated with typical bank lending cycles, and that continued capital returns to shareholders signal confidence the integration is working.

Os argumentos contra

Sellers fear that the technology and venture-capital deposit base inherited from SVB carries the same concentration risk that caused its original collapse, that combining three quite different businesses — retail banking, specialty tech lending and railcar leasing — under one roof raises the odds something is managed less well than a focused competitor would manage it, and that the Rail segment adds a cyclical, capital-intensive business unusual for a bank holding company.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 de setembro de 2026 with claude-haiku-4-5 — shared with all users

P/E: 10.6Score: 64Market cap: $57.64B

Also headquartered in North Carolina, Truist competes branch for branch with First Citizens for retail deposits, small-business and middle-market commercial lending across the Carolinas and the wider Southeast.

P/E: 11.5Score: 75Market cap: $31.84B

M&T is a regional bank of almost identical size (roughly $210 billion in assets) built on the same model — a dense branch network funding commercial and commercial-real-estate lending — and bids for the same mid-sized business clients on the East Coast.

P/E: 10.9Score: 66Market cap: $23.22B

Regions overlaps directly with First Citizens' core Southeastern footprint, chasing the same consumer checking accounts, wealth clients and regional commercial borrowers.

P/E: 17.3Score: 63Market cap: $46.67B

Fifth Third is a comparable large regional bank whose commercial and middle-market lending, treasury-management and payments offer competes for the same corporate relationships First Citizens' Commercial Bank targets.

P/E: 11.7Score: 68Market cap: $31.04B

Huntington pairs a regional branch bank with one of the largest US equipment-finance and specialty-lending platforms, competing head-on with the equipment finance and leasing business First Citizens acquired with CIT.

Western Alliance BancorporationWAL

Through Bridge Bank and its technology and life-sciences lending teams, Western Alliance fights First Citizens' SVB division for venture-backed startups, capital-call lines and the deposits of innovation-economy companies.

Balanço & Liquidez

Receita

$9.62B

Últimos 12 meses (até 30/06/2026)

Resultado Líquido

$2.35B

Últimos 12 meses (até 30/06/2026)

Fluxo de Caixa Livre

$2.21B

Capital Próprio Total

$22.24B

Passivo Total

$207.46B

Rácio de Liquidez

-

Cobertura de Juros

0.47

Dívida/EBITDA

-

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

BancoJustamente Valorizada

Valor Justo

$2225.94

Preço Atual

$2060.20

Margem de Segurança

+7.4%

Intervalo de Valor Justo

$1446.86 - $3005.01

Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.

Métodos de Estimativa

Preço-alvo dos analistas:$2339.38
Fluxo de caixa descontado (DCF):Não aplicável a este tipo de empresa
Multiplicador de lucros (P/E):$1947.95
Fórmula de crescimento de Graham:Não aplicável a este tipo de empresa
Valor da capacidade de gerar lucro (EPV):Não aplicável a este tipo de empresa
P/B justificado:$3031.12
Desconto de dividendos (Gordon):$320.80
P/FFO, fundos de operações:Não aplicável a este tipo de empresa
Lucros de meio de ciclo:Não aplicável a este tipo de empresa
Multiplicador sobre as receitas:Não aplicável a este tipo de empresa
Consenso dos Analistas:Comprar (10B / 11H / 0S)
Última Surpresa de Resultados:+36.73%

Métricas de Avaliação

Rácio P/E

11.04

ROE

9.9%

Rácio P/B

0.97

P/FCF

8.63

Margem Bruta

-

ROIC

-

Radar de Rentabilidade

Criação de Valor (Vantagem Competitiva)

ROIC

-

WACC

12.1%

ROIC − WACC

-

Critérios de Análise Fundamental

Aprovado (14)

  • EPS shows upward trend
  • EPS CAGR 16.80%
  • Price CAGR 19.11%
  • P/FCF 8.63
  • P/B Ratio 0.97
  • Operating Margin 32.8%
  • Positive Free Cash Flow
  • Low reliance on intangibles
  • Price below Graham Number
  • ROE 10.7%
  • Earnings Surprise avg 12.0%
  • PEG Ratio 0.34
  • Earnings Quality (OCF/NI) 1.35
  • Share Dilution -8.9%

Reprovado (8)

  • Debt/Equity ratio
  • CapEx intensity
  • Interest Coverage
  • Return on Tangible Assets
  • DCF valuation (Unknown)
  • Analyst Consensus 48% Buy
  • Net Margin Trend 24.5% vs 25.2%
  • Piotroski F-Score 4/9

Indisponível (6)

  • ROIC NaN%
  • Gross Margin NaN%
  • Dividend Payout NaN%
  • Current Ratio
  • Debt/EBITDA
  • Revenue Growth 5Y (Finnhub)

Piotroski F-Score

4/9

Sinais mistos: algumas áreas requerem atenção

score
criteria

Qualidade dos Resultados

1.35

Alta qualidade: resultados respaldados por caixa

Diluição de Ações

-8.9%

A recomprar ações. Favorável ao acionista

Participações institucionais

Governação

Equipa Executiva

NomeCargoIdade
Mr. Frank Brown Holding Jr.Chairman & CEO64
Ms. Hope Holding BryantVice Chairwoman62
Mr. Peter McDonald BristowPresident & Director59
Mr. Craig Lockwood Nix CPAChief Financial Officer53
Mr. Gregory L. SmithChief Information & Operations Officer60
Ms. Deanna W. HartSenior Vice President of Investor Relations47
Mr. Matthew G. T. MartinGeneral Counsel & Corporate Secretary45
Ms. Barbara ThompsonDirector of Corporate Communications & Brand Marketing-
Mr. West L. LudwigChief Human Resources Officer56
Mr. Tom A. EklundChief Risk Officer-

Risco de Auditoria

4

Risco do Conselho

9

Risco de Remuneração

2

Risco dos Direitos dos Acionistas

10

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Documentos

  • Relatório anual (10-K)

    Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.

    Arquivado em 2026-02-24

    Ver documento
  • Relatório trimestral (10-Q)

    Uma atualização sobre o desempenho financeiro dos últimos três meses.

    Arquivado em 2026-08-07

    Ver documento
  • Relatório de fato relevante (8-K)

    Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.

    Arquivado em 2026-09-14

    Ver documento

via SEC EDGAR

Histórico de Resultados

via SEC EDGAR

Latest News

Recent headlines for FCNCA, sourced from Markets Gazette.

No recent news for FCNCA.