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 |
|---|---|---|---|
| 1/14/2025 | $2500.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 12/17/2024 | Buy | UBS | |
| 12/9/2024 | $2600.00 | Buy | Deutsche Bank |
| 12/4/2024 | $2100.00 → $2500.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 9/24/2024 | $2450.00 → $2150.00 | Outperform → Neutral | Wedbush |
| 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 |
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Keefe Bruyette upgraded First Citizens BancShares from Mkt Perform to Outperform and set a new price target of $2,500.00
UBS resumed coverage of First Citizens BancShares with a rating of Buy
Deutsche Bank initiated coverage of First Citizens BancShares with a rating of Buy and set a new price target of $2,600.00
Keefe Bruyette downgraded First Citizens BancShares from Outperform to Mkt Perform and set a new price target of $2,500.00 from $2,100.00 previously
Wedbush downgraded First Citizens BancShares from Outperform to Neutral and set a new price target of $2,150.00 from $2,450.00 previously
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
SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Linea Energy ("Linea"), a renewables-focused developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), is pleased to announce closing of project debt financing for its Pineview Solar project ("Pineview") this past December. Pineview is a 109MWdc utility-scale solar energy facility located in Wilcox County, Georgia. The Pineview debt financing comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. The financing is provided by a syndicate of lenders led by First Citizens Bank ("First Citizens") and Norddeutsche Landesbank Girozentrale ("NORD/LB"). "We are proud to annou
New report finds $5.6 billion invested in biopharma AI in 2024 SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Venture Capital (VC) investment in healthcare grew to $23 billion in 2024, from $20 billion in 2023, as artificial intelligence (AI) clearly established product fit in the healthcare sector, according to the latest market insights report from Silicon Valley Bank (SVB), a division of First Citizens Bank. AI continues to take center stage, especially across biopharma, with 30% of healthcare investment in 2024 going to companies leveraging AI. With more than $5 billion in 20
RALEIGH, N.C., Jan. 2, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended December 31, 2024, before the U.S. financial markets open on Friday, January 24, 2025. 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://event
WALTHAM, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today announced that it has entered into a term loan facility with Silicon Valley Bank (SVB), a division of First Citizens Bank, for up to $52.5 million. The first tranche of $32.5 million, advanced at loan closing, will be used to retire the existing convertible debt with K2 Health Ventures and the remainder for general corporate purposes. TScan has the option through June 30, 2026, to draw the second $20.0 million tranche, subj
RALEIGH, N.C., Dec. 16, 2024 /PRNewswire/ -- Matt Snow has been appointed to the board of directors of First Citizens BancShares, Inc. ("BancShares") and its subsidiary, First-Citizens Bank & Trust Company ("First Citizens Bank"), effective Jan. 2, 2025. For the past two years, Snow has served as chairman of the governing board of Forvis Mazars, LLP ("Forvis Mazars") in the United States, a top 10 U.S. accounting firm that provides assurance, tax and consulting services. He also has served as the vice chairman of the governing board of Forvis Mazars Global, Ltd., a global netw
The additional capital rounds out a $100 million raise in 2024, more than doubling Legion's total funding Legion Technologies, an innovator in workforce management (WFM), today announced it has received $50 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank. The raise, which brings Legion's total funding to $195 million, follows a $50 million growth round led by Riverwood Capital earlier this year. "From the beginning, Legion has been on a mission to improve hourly jobs and the capital we've received from investors this year demonstrates the enduring value of that mission," said Sanish Mondkar, founder and CEO of Legion Technologies. "Our tremendous g
The debt warehouse facility and structured equity investment will support construction of 300 Megawatts of U.S. community solar projects and is Pivot's largest financing agreement to date DENVER, Nov. 21, 2024 /PRNewswire/ -- Pivot Energy ("Pivot"), a leading, national renewable energy provider and independent power producer, announced today two transformational financing arrangements, marking a critical step toward establishing innovative and scalable financing facilities. Pivot has successfully secured a $450 million debt warehouse facility, led by long-time partner, First Citizens Bank, which includes new strategic partner ATLAS SP Partners ("ATLAS"), the warehouse finance and securitized
Financing provided by SVB's Enterprise Software Group NEW YORK, Nov. 19, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided $35 million in debt financing to Squire Technologies Inc., a leading full-scale management and point of sale (POS) system that helps barbershop owners scale their businesses and increase clientele while also reducing the amount of time spent in back-office operations. Backed by new financing from SVB's Enterprise Software Group, Squire is poised to drive ongoing innovation and expand its ind
Financing provided by SVB's Enterprise Software Group SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided a $50 million growth capital facility to Bugcrowd, a leading provider of crowdsourced cybersecurity solutions. Bugcrowd brings the collective ingenuity of organizations and hackers to mitigate vulnerabilities across all applications, systems, and infrastructure. Provided by SVB's Enterprise Software Group, the new financing will further scale Bugcrowd's AI-powered platform globally, fun
NEW YORK, Oct. 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business is introducing a new tax equity investment product to help finance renewable energy projects. Tax equity products enable qualified investors to reap the benefits of various tax incentives aimed at promoting the development of renewable energy. As an industry leader in renewable energy financing, First Citizens Energy Finance is well positioned to expand its product capabilities, which will now include tax equity investments. "This new tax equity investment product allow
RALEIGH, N.C., Jan. 2, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended December 31, 2024, before the U.S. financial markets open on Friday, January 24, 2025. 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://event
RALEIGH, N.C., Oct. 24, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the third quarter of 2024. Chairman and CEO Frank B. Holding, Jr. said: "We posted another quarter of strong financial results, largely in line with our expectations. Loan growth remained resilient in both the General Bank and Commercial Bank segments, while loans in the SVB Commercial segment declined as Global Fund Banking repayment levels outpaced draw activity. We experienced another quarter of deposit growth, mostly concentrated in our Branch Ne
RALEIGH, N.C., Oct. 24, 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 Dec. 16, 2024, to holders of record as of Nov. 29, 2024: A quarterly common stock dividend of $1.95 per share on the company's Class A and Class B common stock – which is an increase from the previous quarter's common stock dividend of $1.64 per share. A regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual p
RALEIGH, N.C., Oct. 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended September 30, 2024, before the U.S. financial markets open on Thursday, October 24, 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://ev
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.
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Michelle Draper, former Silicon Valley Bank CMO and 30-year financial industry veteran, to lead marketing and client experience RALEIGH, N.C., Oct. 17, 2024 /PRNewswire/ -- First Citizens Bank today announced the appointment of Michelle Draper to Chief Marketing Officer (CMO). Most recently, Draper served as Chief Marketing and Sales Strategy Officer of Silicon Valley Bank (SVB), a division of First Citizens Bank. In her role serving the First Citizens enterprise, Draper leads a marketing organization nationwide dedicated to building upon the company's customer-centric vision
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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