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 |
|---|---|---|---|
| 3/11/2025 | $2250.00 | Neutral → Overweight | Piper Sandler |
| 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 |
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Piper Sandler upgraded First Citizens BancShares from Neutral to Overweight and set a new price target of $2,250.00
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
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RALEIGH, N.C., April 24, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the first quarter of 2025. Chairman and CEO Frank B. Holding, Jr. said: "Our first quarter financial results were solid, including loan growth in the Commercial Bank and SVB Commercial segments, as well as deposit growth, primarily in the Direct Bank and throughout our Branch Network. Credit remained stable with net charge-offs declining from the fourth quarter. We maintained strong capital and liquidity positions which allowed us to return an addit
RALEIGH, N.C., April 24, 2025 /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 16, 2025, to holders of record as of May 30, 2025: A quarterly common stock dividend of $1.95 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 2, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended March 31, 2025, before the U.S. financial markets open on Thursday, April 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://events.
Investment in Women's Health reached $2.6 billion in 2024 despite challenging fundraising environment SAN FRANCISCO, April 2, 2025 /PRNewswire/ -- Venture capital investment in women's health startups has experienced significant growth in recent years, with funding reaching new heights in 2024. According to the latest report from Silicon Valley Bank (SVB), a division of First Citizens Bank, women's health investment hit $2.6 billion last year, surpassing 2023's total by nearly $1 billion. When including funding for related diseases that affect women differently or disproportionately, total investment in the sector rose to $10.7 billion.
Connectivity Wireless, an M|C Partners backed platform and leading provider of in-building wireless solutions, today announced it has successfully secured a $110 million senior debt facility with an additional $30 million available at a later date led by First Citizens Bank. In addition, the company received a $60 million growth investment led by Post Road Group, with participation from Boundary Street Capital, further strengthening its financial position and fueling its continued venue network growth. This strategic financing will enable Connectivity Wireless to accelerate the deployment of its cutting-edge in-building wireless infrastructure solutions, enhance operational capabilities, a
BOULDER, Colo., March 17, 2025 /PRNewswire/ -- Peregrine Energy Solutions LLC ("Peregrine"), an integrated multi-technology clean energy platform with a focus on utility-scale storage, announced today it has closed a $53 million preferred equity commitment with Bildmore Clean Energy for a 150MW battery energy storage project that's currently under construction. Concurrently, Peregrine also secured a $115 million bridge financing facility to fund the remaining construction of the project. First Citizens Bank acted as Joint Coordinating Lead Arranger and Collateral Agent for the facility, and Nomura Securities International, Inc. acted as Joint Coordinating Lead Arranger and Administrative Age
Relationship will extend availability of venture debt to technology and life science companies nationwide SAN FRANCISCO, March 12, 2025 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, announced today it has entered into a strategic lending relationship with Pinegrove Venture Partners (Pinegrove). SVB and Pinegrove expect to deploy a combined $2.5 billion in venture debt loans to technology and life science companies over the coming years. Backed by Sequoia Heritage and Brookfield Asset Management, Pinegrove is a venture investment platform with c
NEW YORK, Feb. 5, 2025 /PRNewswire/ -- First Citizens Bank and Sixth Street, a leading global investment firm, today announced the launch of Sixty-First Commercial Finance, a new platform managed by First Citizens Institutional Asset Management, LLC and designed to provide flexible capital equipment financing solutions to middle market companies. A joint venture between Sixth Street's Asset Based Finance platform and First Citizens Bank, Sixty-First Commercial Finance will leverage the well-established capabilities and expertise of both institutions to provide mid- and large-t
RALEIGH, N.C., Jan. 24, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the fourth quarter of 2024. Chairman and CEO Frank B. Holding, Jr. said: "We delivered another quarter of strong financial results and experienced loan and deposit growth across all of our segments. Credit remained stable and our solid capital and liquidity positions allowed us to repurchase 461,583 shares of our Class A common stock for $963 million during the fourth quarter. "In the wake of the recent wildfires and Hurricanes Helene and Milton, our
RALEIGH, N.C., Jan. 24, 2025 /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 March 17, 2025, to holders of record as of Feb. 28, 2025: A quarterly common stock dividend of $1.95 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., April 24, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the first quarter of 2025. Chairman and CEO Frank B. Holding, Jr. said: "Our first quarter financial results were solid, including loan growth in the Commercial Bank and SVB Commercial segments, as well as deposit growth, primarily in the Direct Bank and throughout our Branch Network. Credit remained stable with net charge-offs declining from the fourth quarter. We maintained strong capital and liquidity positions which allowed us to return an addit
RALEIGH, N.C., April 24, 2025 /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 16, 2025, to holders of record as of May 30, 2025: A quarterly common stock dividend of $1.95 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 2, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended March 31, 2025, before the U.S. financial markets open on Thursday, April 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://events.
RALEIGH, N.C., Jan. 24, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the fourth quarter of 2024. Chairman and CEO Frank B. Holding, Jr. said: "We delivered another quarter of strong financial results and experienced loan and deposit growth across all of our segments. Credit remained stable and our solid capital and liquidity positions allowed us to repurchase 461,583 shares of our Class A common stock for $963 million during the fourth quarter. "In the wake of the recent wildfires and Hurricanes Helene and Milton, our
RALEIGH, N.C., Jan. 24, 2025 /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 March 17, 2025, to holders of record as of Feb. 28, 2025: A quarterly common stock dividend of $1.95 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., 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
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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