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, 2020, it operated 542 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.
IPO Year:
Exchange: NASDAQ
Website: firstcitizens.com
Date | Price Target | Rating | Analyst |
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7/9/2024 | $2005.00 | Buy | Jefferies |
7/2/2024 | $1900.00 | Mkt Perform → Outperform | Raymond James |
4/26/2024 | $1850.00 → $1950.00 | Overweight → Neutral | Piper Sandler |
4/11/2024 | $1850.00 | Equal Weight | Barclays |
3/21/2024 | $1950.00 | Buy | Goldman |
11/28/2023 | Mkt Perform | Raymond James | |
10/5/2023 | $1700.00 | Outperform | Wedbush |
9/29/2023 | $1520.00 | Neutral | Citigroup |
9/20/2023 | $1850.00 | Overweight | JP Morgan |
6/28/2023 | $1775.00 | Overweight | Atlantic Equities |
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RALEIGH, N.C., Sept. 10, 2024 /PRNewswire/ -- First Citizens Bank today announced that its business and consumer banking customers can now instantly receive secure payments in their savings and checking accounts via a national instant payments network called the RTP® network. By joining the RTP network, First Citizens is enabling its customers to receive payments in just seconds – far quicker than alternative electronic payment channels such as ACH and wire transfers. This instant payment capability is available to First Citizens customers around-the-clock, seven days a week.
NEW YORK, Sept. 9, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as co-lead arranger on a $300 million senior secured credit facility for Swift Current Energy, a leading North American clean energy platform. The financing will provide flexible growth capital as Swift Current pursues development of 10 GW gigawatts of wind, solar and energy storage projects in its pipeline, with plans to own and operate 1 GW by the end of year. "Our utility-scale renewable power projects are continuing to contribute to grid stability and reliabi
NEW YORK, Sept. 5, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states. The eight facilities covered by this transaction represent more than 1,500 licensed beds, which typically offer care to individuals who need rehabilitation from injury or
Deutsche Bank and First Citizens Bank announced today they served as co-lead arrangers on a $315.7 million financing for four battery energy storage systems in Texas. Deutsche Bank Trust Company Americas served as Administrative Agent on the transaction. SocGen and Siemens joined as Joint Lead Arrangers and BankUnited, Mitsubishi HC Capital, and Bayern LB rounded out the syndicate. All four projects are expected to be operational later this year and collectively represent 730 MW / 1,049 MWh of capacity owned by a battery energy storage-focused fund at UBS Asset Management. Battery energy storage systems are increasingly seen as a key component for supporting grid stability and reliability
NEW YORK, Sept. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as lead arranger on $145 million in financing on behalf of Linea Energy LLC for the development of advanced renewable energy projects across the U.S. Established in 2002 and headquartered in San Francisco, California, Linea Energy is a renewables platform and independent power producer focused on the development, ownership, and operation of clean energy infrastructure. It is a portfolio company of EnCap Investments L.P. The financing, which includes a revolving c
NEW YORK, Sept. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Asset-Based Lending business served as lead arranger in upsizing the credit facility for SG Credit Partners' asset-based lending verticals comprised of SG Consumer Products and SG Commercial Finance, which focus on sponsor-backed CPG companies and the general lower middle market, respectively. The upsize increases the credit facility to support SG Credit's recent addition of its Commercial Finance division as part of its broader growth strategy of focusing on new lending verticals. SG Credit P
2024 shaping up to be a strong year for biopharma SAN FRANCISCO, Aug. 7, 2024 /PRNewswire/ -- In the first half of 2024, 89% of US venture capital (VC) funds at or above $25M hit their fundraising targets, marking the second-highest rate in history, according to the latest report from Silicon Valley Bank (SVB), a division of First Citizens Bank. The 2024 report also found that the biopharma sector could be on track for a record-setting year after reaching high investment levels, particularly in larger deals, with 55 biopharma companies securing deals of $100M or more. Leveragi
NEW YORK, Aug. 7, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $45 million revolving credit facility to creative materials distributor, MacPherson's. MacPherson's is the largest creative materials distributor in North America, distributing over 50,000 products from over 200 brands to retailers worldwide. The company is headquartered in Suwanee, Georgia and maintains warehouses in both Suwanee and in Reno, Nevada. "We appreciate the expertise of CIT Northbridge C
RALEIGH, N.C., Aug. 1, 2024 /PRNewswire/ -- First Citizens Wealth today announced it is expanding its presence in Atlanta to better support growing demand from its core clientele of entrepreneurs and business owners. Continued growth is driving the recent addition of a portfolio strategist and the impending additions of a wealth consultant and two private bankers to the First Citizens Wealth team as it expands its capacity to help clients meet their financial objectives. The First Citizens Wealth team in Atlanta specializes in private banking and wealth consulting, with an emp
Continues strong momentum following biggest product update in history and best year on record Thumbtack, the technology company helping millions of people confidently care for and improve their homes, today announced $75 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, and Hercules Capital, Inc. (NYSE:HTGC). The debt facility provides access to efficient capital and liquidity for Thumbtack as it continues to bring the $600 billion home services industry online. The new financing comes on the heels of Thumbtack's best fiscal year to date. In 2023, the company surpassed $300 million in revenue and achieved EBITDA profitability. Thumbtack's home segme
RALEIGH, N.C., June 4, 2024 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ:FCNCA), parent company of First Citizens Bank, today was named for the first time to the Fortune 500™ list of the largest companies in the United States by revenue. First Citizens ranked #182 overall on the 2024 list, underscoring its status as one of the nation's premier banking and financial services institutions. In addition, the bank was listed at #24 on Fortune's 2024 list of fastest-growing companies. "At First Citizens, we are deeply committed to supporting clients with high-quality, reli
RALEIGH, N.C., Jan. 22, 2024 /PRNewswire/ -- First Citizens Bank announced today the appointment of James Bennett as executive director of External Affairs. In this newly created position, Bennett, a seasoned First Citizens banker, is now responsible for nationwide community engagement as well as strengthening relationships with state and federal government officials, members of Congress, trade groups and other public policy stakeholders. His new position was effective Jan. 1, 2024. He reports to Chairman and CEO Frank B. Holding, Jr. "We are glad to have James' leadership in
New leadership continues SVB's commitment to best-in-class product solutions SANTA CLARA, Calif., Aug. 22, 2023 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced Martin Murrell has been named Head of Global Payments and Milton Santiago was named Head of Global Digital Solutions. The new leaders will further SVB's commitment to innovative products, client solutions and exceptional client experience. "In a period of dramatic change in the payments and digital banking landscape, Martin and Milton bring the vision and execution needed
Company releases Mid-Year Healthcare Investments and Exits Report SAN FRANCISCO, July 27, 2023 /PRNewswire/ -- Silicon Valley Bank, a division of First Citizens Bank, today announced that 16-year SVB veteran Jackie Spencer has been named the new Head of Relationship Management for Life Science and Healthcare Banking. The company also announced that 26-year SVB veteran Megan Scheffel was named Head of Credit Solutions for the Life Science and Healthcare practice. Spencer and Scheffel report to 30-year SVB leader Joan Parsons, Head of Technology and Healthcare Banking at Silicon Valley Bank (SVB).
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RALEIGH, N.C., July 25, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the second quarter of 2024 and announced a share repurchase plan. Chairman and CEO Frank B. Holding, Jr. said: "We are pleased with our second quarter financial results, which reflected broad-based loan and deposit growth, strong profitability metrics and continued stabilization of credit. These results reflected the solid performance from all of our business segments and we were encouraged by the continued progress in our SVB Commercial segment, wh
RALEIGH, N.C., July 25, 2024 /PRNewswire/ -- The Board of Directors of First Citizens BancShares, Inc. (NASDAQ:FCNCA) has declared the following dividends on the company's common and preferred stock, in each case to be paid on Sept. 16, 2024, to holders of record as of Aug. 30, 2024: A quarterly common stock dividend of $1.64 per share on the company's Class A and Class B common stock.A regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual preferred stock, Series A, resulting in a distribution of $0.335938 per depositary share.A di
RALEIGH, N.C., July 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended June 30, 2024, before the U.S. financial markets open on Thursday, July 25, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for the call via webcast (recommended), please visit: https://events.q4i
RALEIGH, N.C., April 25, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the first quarter of 2024. Chairman and CEO Frank B. Holding, Jr. said: "We are pleased with our first quarter performance where we delivered strong financial results. We posted solid loan and deposit growth and credit quality held up well. Our capital and liquidity levels increased, positioning our balance sheet well for further growth. It's been over one year since SVB became part of First Citizens, and we continue to successfully execute on our i
RALEIGH, N.C., April 25, 2024 /PRNewswire/ -- The Board of Directors of First Citizens BancShares, Inc. (NASDAQ:FCNCA) has declared the following dividends on the company's common and preferred stock, in each case to be paid on June 17, 2024, to holders of record as of May 31, 2024: A quarterly common stock dividend of $1.64 per share on the company's Class A and Class B common stock.A regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual preferred stock, Series A, resulting in a distribution of $0.335938 per depositary share.A div
RALEIGH, N.C., April 3, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended March 31, 2024, before the U.S. financial markets open on Thursday, April 25, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern Time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for the call via webcast (recommended), please visit: https://events.
RALEIGH, N.C., Jan. 26, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the fourth quarter ended December 31, 2023. Chairman and CEO Frank B. Holding, Jr. said: "Our fourth quarter financial results remained solid as we completed what was a truly exceptional year. While celebrating our bank's 125th anniversary, we completed our integration with CIT and finished strong with the stabilization of SVB, all while our teams continued to support our clients. We now look forward to 2024, remaining focused on prudent risk managem
RALEIGH, N.C., Jan. 26, 2024 /PRNewswire/ -- The Board of Directors (the "Board") of First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) declared on Jan. 24, 2024, dividends on the company's Class A and Class B common stock, as well as Series A, B and C preferred stock for the period commencing on and including the last respective payment date. As noted above, the Board declared a quarterly dividend of $1.64 per share on the company's Class A and Class B common stock. The dividend is payable March 15, 2024, to holders of record as of Feb. 29, 2024. The Board declare
RALEIGH, N.C., Jan. 4, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the fourth quarter and year ended Dec. 31, 2023, before the U.S. financial markets open on Friday, Jan. 26, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for the call via webcast (recommended), please visit: http
RALEIGH, N.C., Oct. 4, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the third quarter ended Sept. 30, 2023, before the U.S. financial markets open on Thursday, Oct. 26, 2023. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for this call (recommended), please visit https://www.netroadshow
First Citizens BancShares (NASDAQ:FCNCA) reported quarterly earnings of $50.87 per share which beat the analyst consensus estimate of $44.78 by 13.6 percent. This is a 3.29 percent decrease over earnings of $52.60 per share from the same period last year. The company reported quarterly sales of $2.300 billion which missed the analyst consensus estimate of $2.328 billion by 1.22 percent. This is a 17.29 percent increase over sales of $1.961 billion the same period last year.
First Citizens BancShares (NASDAQ:FCNCA) has outperformed the market over the past 5 years by 18.41% on an annualized basis producing an average annual return of 31.28%. Currently, First Citizens BancShares has a market capitalization of $26.63 billion. Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 5 years ago, it would be worth $3,952.79 today based on a price of $1832.79 for FCNCA at the time of writing. First Citizens BancShares's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article wa
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume BAC CALL SWEEP BEARISH 07/19/24 $42.00 $49.2K 23.3K 2.0K COIN CALL TRADE BEARISH 08/16/24 $250.00 $36
Jim Lebenthal of Cerity Partners hyped UnitedHealth Group Incorporated (NYSE:UNH) as a “solid” healthcare company in the latest edition of CNBC's “Halftime Report Final Trades.” On July 9, Cantor Fitzgerald analyst Sarah James reiterated UnitedHealth with an Overweight rating and maintained a price target of $591. Don't forget to check out our premarket coverage here. Brian Belski of BMO Capital Markets said First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a “great, great brand.” First Citizens BancShares is expected to report its financial results for the quarter ended June 30, 2024, before the opening bell on Thursday, July 25. Analysts expect the company to report quarterly
First Citizens BancShares's (NYSE:FCNCA) short percent of float has risen 15.0% since its last report. The company recently reported that it has 266 thousand shares sold short, which is 2.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.79 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Sho
First Citizens BancShares (NASDAQ:FCNCA) has outperformed the market over the past 10 years by 10.88% on an annualized basis producing an average annual return of 21.77%. Currently, First Citizens BancShares has a market capitalization of $24.93 billion. Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 10 years ago, it would be worth $7,150.12 today based on a price of $1716.10 for FCNCA at the time of writing. First Citizens BancShares's Performance Over Last 10 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article
First Citizens BancShares's (NYSE:FCNCA) short percent of float has fallen 6.54% since its last report. The company recently reported that it has 231 thousand shares sold short, which is 2.0% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.12 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Sh
First Citizens BancShares (NASDAQ:FCNCA) has outperformed the market over the past 15 years by 5.62% on an annualized basis producing an average annual return of 18.39%. Currently, First Citizens BancShares has a market capitalization of $23.70 billion. Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 15 years ago, it would be worth $1,196.26 today based on a price of $1631.22 for FCNCA at the time of writing. First Citizens BancShares's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article wa
Jefferies initiated coverage of First Citizens BancShares with a rating of Buy and set a new price target of $2,005.00
Raymond James upgraded First Citizens BancShares from Mkt Perform to Outperform and set a new price target of $1,900.00
Piper Sandler downgraded First Citizens BancShares from Overweight to Neutral and set a new price target of $1,950.00 from $1,850.00 previously
Barclays initiated coverage of First Citizens BancShares with a rating of Equal Weight and set a new price target of $1,850.00
Goldman initiated coverage of First Citizens BancShares with a rating of Buy and set a new price target of $1,950.00
Raymond James initiated coverage of First Citizens BancShares with a rating of Mkt Perform
Wedbush initiated coverage of First Citizens BancShares with a rating of Outperform and set a new price target of $1,700.00
Citigroup initiated coverage of First Citizens BancShares with a rating of Neutral and set a new price target of $1,520.00
JP Morgan initiated coverage of First Citizens BancShares with a rating of Overweight and set a new price target of $1,850.00
Atlantic Equities initiated coverage of First Citizens BancShares with a rating of Overweight and set a new price target of $1,775.00
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