Latest news with #FirstCitizensBancShares
The Hindu
09-06-2025
- Business
- The Hindu
U.S.-based First Citizens BancShares expands India GCC
First Citizens India, a subsidiary of First Citizens BancShares, Inc., one of the top 20 banks in the United States with more than $200 billion in assets, on Monday said it expanded its India operations by opening a new office in Bengaluru. First Citizens' investment in its new facility recognised India's role as a strategic destination for the bank, the bank said. First Citizens also said expansion reinforced India's role as a premier hub for Global Capability Centres (GCCs) delivering enterprise-wide solutions. With expanded capacity and a collaborative design, the new workplace supports core areas including technology, enterprise operations, finance, cybersecurity, risk management, and credit administration. Jeff Ward, Chief Strategy Officer, First Citizens Bank, who was on a visit to the city said, 'Our decision to expand our footprint in the established hub of Bengaluru allows us to strategically leverage the country's vast talent pool and directly support the long-term commitment to our enterprise vision.' Satya Prakash Ranjan, Country Head & Head of Technology, First Citizens India said, as the bank continued to modernise and scale its technology platforms, the India facility and team here gave it required flexibility and environment needed to deliver enterprise-grade solutions across a variety of functions. First Citizens India would also be hiring additional people to support the expansion activities in India. ``We are hiring and welcoming colleagues to help us deliver business solutions based on the bank's shared values of client-first service, a commitment to excellence, empathy, respect for differences, and forward-looking abilities.'
Yahoo
29-05-2025
- Business
- Yahoo
DA Davidson Lowers Price Target on First Citizens BancShares, Keeps Neutral Rating
On May 29, DA Davidson lowered its price target for First Citizens BancShares, Inc. (NASDAQ:FCNCA) from $2,100 to $2,050 while keeping a Neutral rating. The change is due to expected declines in net interest income (NII) and net interest margin (NIM) despite strong loan and deposit growth. A business executive confidently presenting a financial research report to a boardroom. Kevin Fitzsimmons, an analyst at DA Davidson noted that First Citizens could see more balance sheet and fee growth if capital markets activity increases. They may benefit from high interest rates due to its asset sensitivity. However, lower expected earnings per share (EPS) signal challenges. The stock has dropped 1% compared to the KRX index since the last earnings report, down 6% year-to-date, but gained 39% in 2024. DA Davidson also adjusted expectations for the bank's share buyback program, now anticipating First Citizens will reach its CET1 capital ratio target (10.5%-11%) by Q1 2026, slightly later than previously expected. The Neutral rating signals caution due to potential rate cuts and economic uncertainties, which could limit further stock growth. First Citizens BancShares, Inc. is the parent company of First-Citizens Bank & Trust, offering banking services in the U.S. and internationally. It provides individuals, businesses, and professionals with checking, savings, and loan options. The bank offers loans for construction, businesses, mortgages, and personal needs, along with wealth management services, including investment advice, trust management, and insurance. It also provides leasing and financing solutions for railcars and locomotives. Customers can access services online, via mobile apps, or at branch locations. While we acknowledge the potential of First Citizens BancShares, Inc. (NASDAQ:FCNCA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FCNCA and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None.
Yahoo
30-04-2025
- Business
- Yahoo
First Citizens BancShares, Inc. (FCNCA): Among Large-Cap Stocks Insiders Were Buying in Q1 2025 Before Trump's Tariff Shockwave
We recently published a list of . In this article, we are going to take a look at where First Citizens BancShares, Inc. (NASDAQ:FCNCA) stands against other large-cap stocks insiders were buying in Q1 2025 before Trump's tariff shockwave. US stocks surged last week following President Trump's statement that he had 'no intention' of removing Federal Reserve Chair Jerome Powell, which helped alleviate concerns about the central bank's independence. Additionally, Trump took a more conciliatory stance on tariffs, suggesting that high import duties on China might eventually be reduced, writes Yahoo Finance. Amid tariff wars and market uncertainty, insider trading often draws attention. Insider stock purchases may signal executive confidence, while sales aren't necessarily negative—they could reflect personal or diversification choices. It's best to view insider trading in context with a company's financials and market conditions. Today, we're focusing on stocks that have seen heavy insider buying activity in the first quarter of the year. Using Insider Monkey's insider trading screener, we identified companies with market caps above $10 billion, where at least two insiders purchased shares in the past three months. From this list, we ranked the top 12 stocks with the highest value of insider purchases Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Market cap: $23.3 billion First Citizens BancShares, Inc. (NASDAQ:FCNCA), based in Raleigh, North Carolina, is the holding company for First-Citizens Bank & Trust. It offers retail and commercial banking services, wealth management, and financing solutions in the U.S. and internationally through various segments, including General Bank, Commercial Bank, and Silicon Valley Bank Commercial, available online and at branch locations. In March, two insiders, including the president and CEO, and the CFO of First Citizens BancShares, purchased approximately $856,467 worth of the company's shares at an average price of $1,521 per share. The company's CEO, Frank Holding, acquired 550 shares, accounting for $824,488 worth of the total purchases in March, and increasing his ownership to 5,018 shares. Year-to-date the stock dropped 16.14%, currently trading at $1,772.04 per share. However, over the past 12 months, First Citizens BancShares shares returned 8.08% to its investors. For the fourth quarter of 2024, First Citizens BancShares, Inc. (NASDAQ:FCNCA) reported a net income of $700 million, up from $639 million in the previous quarter. Net income available to common stockholders rose to $685 million, or $49.21 per share, compared to $624 million, or $43.42 per share, in the third quarter. As of December 31, 2024, loans and leases increased to $140.22 billion, driven by growth in the General Bank, Commercial Bank, and SVB Commercial segments. In a recent development, First Citizens Bank has invested $1 million in The Neighborhood Developers through an Equity Equivalent Investment (EQ2) to support their anti-displacement efforts. The funds will be managed by Opportunity Communities (OppCo) as part of the new OppCo Housing Accelerator Fund, which provides community developers with affordable financing for affordable housing production and preservation. First Citizens BancShares is also one of the 12 high growth non-tech stocks that are profitable in 2025. Overall, FCNCA ranks 5th on our list of large-cap stocks insiders were buying in Q1 2025 before Trump's tariff shockwave. While we acknowledge the potential of FCNCA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FCNCA but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
27-04-2025
- Business
- Yahoo
First Citizens BancShares, Inc. (FCNCA): Among Stocks with Consistent Growth to Buy Now
We recently published a list of . In this article, we are going to take a look at where First Citizens BancShares, Inc. (NASDAQ:FCNCA) stands against stocks with consistent growth to buy now. The market is clouded by friction between trading partners. But even at these uncertain times, one investment strategy remains remarkably consistent: betting on growth. Investors are consistently drawn toward companies that have demonstrated a solid long-term expansion in revenue and earnings. The mechanism behind this is simple: stocks with stable growth offer the potential for compounding returns over time in low-rate environments. Lately, however, the stocks have done more than just show potential. They are leading the market. READ ALSO: and . On April 22, 2025, the market indices surged by 2.5%, contributed by renewed confidence in the ability of high-growth equities to endure the market uncertainty. As per a report from CNBC, confidence emerged after the de-escalation of tensions in U.S. monetary policy. Recent political developments have detoured the market sentiment towards further interest rate cuts by the Federal Reserve. President Trump has backed off from his threats towards the Fed Chair Jerome Powell. However, he firmly believes that the Fed should be more aggressive in lowering interest rates. When this belief was put in words, an immediate surge was noticed in the equity index futures, suggesting the high sensitivity of the market policy cues, particularly when it comes to growth potential. Investors took the cue seriously, pricing in three interest rate cuts by the end of 2025. For growth-oriented companies, the lower borrowing costs can be favorable, specifically if they are in their early to mid-stages of expansion, since capital costs can be reduced and earnings multiples can be improved. Also, with inflationary pressures still in check and the global economic activity indicating resilience, the macroeconomic environment favors growth investing. It shows that the current climate supports equities positioned for sustained performance instead of short-term valuation plays. Not just today, but growth stocks have historically proven their worth in the market for over three decades. These stocks have surpassed their value counterparts in performance, even after considering the major downturns. During economic volatility or even political flux, investors seek clarity. And the provider of such clarity or edge is the growth equities. These companies often reinvest profits and innovate rapidly to achieve more market share. Though they may not always deliver dividends, they reward investors through capital appreciation. During the recovery phases, investors desire such appreciation, which comes in addition to the safety of the investment. As CNBC's recent coverage notes, recoveries are initiated in the form of bear market rallies, and the investors capable of identifying early movers in such cycles typically come out ahead. That said, selectivity is the key. Investors must understand that not all growth is created equal. Every rally does not signal a lasting trend. And it is here that our article gains its value. We have identified 11 stocks that have consistently delivered. It is not just the quarterly earnings or media buzz we focused on, but also the years of disciplined execution and strategic expansion. So, if you are looking for clarity amid the noise, you are in the right place. We followed a few criteria when compiling our list of 11 stocks with consistent growth that investors may want to buy. Primarily, we looked into the growth of each stock for the past five years. We did not include any stock with negative growth. Additionally, we narrowed our picks by selecting only those stocks that have been consistently growing throughout the past 5 years. This ensures that all our picks have solid historical data to support capital appreciation further into the future. Finally, we ranked our picks using the stocks' average growth rate in returns in the past five years. All the data used in this article were taken from financial news, databases, and analyst reports, with all information updated as of April 23, 2025. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A financial advisor and their client discussing the merits of wealth management services. A North Carolina-based company, First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a regional bank holding company offering consumer and commercial banking services across the United States. Their client base includes small to mid-sized businesses, individuals, and institutional clients. The company acquired Silicon Valley Bank's assets in March 2023, after which it expanded significantly in size and scope. Though the market is highly competitive, the company distinguishes itself from regional players through conservative credit practices and a focus on long-term relationship banking. FCNCA is among the best stocks with consistent growth. With a staggering 90.76% growth rate, First Citizens BancShares, Inc. (NASDAQ:FCNCA) ensures its presence among premier bank stocks with durable earnings expansion. Their last Q4 results exceeded expectations by reaching an EPS of $49.21 and a 23% year-over-year revenue increase. The company further demonstrated confidence in its financial performance and its commitment to creating shareholder value through repurchasing additional Class A common stock. For 2025, First Citizens BancShares, Inc. (NASDAQ:FCNCA) anticipates growth in loans and deposits between $144 and $147 billion and $162 and 167 billion, respectively, resulting in a net interest income between $6.6 and $7 billion. Insider Monkey database found 45 hedge funds holding positions and confirming high institutional confidence in First Citizens BancShares, Inc. (NASDAQ:FCNCA) at the end of Q4 2024, earning its place among our list of best stocks with consistent growth for investors to buy now. Overall, FCNCA ranks 6th on our list of stocks with consistent growth to buy now. While we acknowledge the potential of FCNCA, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FCNCA but trades at less than 5 times its earnings check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
26-04-2025
- Business
- Yahoo
First Citizens prefers buybacks over M&A, for now
First Citizens BancShares is sticking with its share-repurchase strategy, with executives saying Thursday that buybacks are the best way to return capital to shareholders in the current environment, which has been marked by tariffs-driven market volatility and economic uncertainty. That doesn't mean mergers and acquisitions, which have been a key factor in First Citizens' recent expansion, are off the table, according to Craig Nix, First Citizens' chief financial officer. "I would not say that our appetite for M&A has changed," Nix said during the bank's first-quarter earnings call. "We're really dealing with what's in front of us right now, and that's the share repurchase plan. That's the most effectual way for us to return capital at this point in time." Still, "M&A remains an important part of our growth strategy over the long term," he said. The Raleigh, North Carolina-based parent of First Citizens Bank is two years out from buying a significant portion of Silicon Valley Bank, whose abrupt failure in mid-March 2023 destabilized the industry and forced banks of all sizes to secure their deposits and calm jittery customers. The deal nearly doubled First Citizens' total assets, and it came just over a year after the company had already doubled in size with its acquisition of CIT Group in New York City. As a result, First Citizens' capital ticked upward. Its common equity Tier 1 ratio, which compares a bank's capital against its assets, hovered at a little over 13% in 2024. In the first quarter of this year, the CET1 ratio came in slightly lower at 12.8%, the company said in a press release Thursday. The goal is to reduce the ratio to 10.5% to 11% by the end of next year's first quarter, Nix said. During the period ending March 31, 2025, First Citizens repurchased $613 million of common shares, bringing total share repurchases since August to $2.4 billion. In total, the $228.8 billion-asset company is aiming to buy back $3.6 billion of shares through its current repurchase program. To get to the 10.5% to 11% CET1 target, the company is thinking about implementing another buyback program in the second half of this year and will share more information in July, Nix said. As of midday Thursday, the company's stock was up about 1%. Like much of the rest of the banking industry, its share price has declined this year. It's currently down about 15.4% since Jan. 1, compared with a 14.8% drop in the KBW Nasdaq Bank Index. During First Citizens' earnings call on Thursday, Keefe, Bruyette & Woods analyst Chris McGratty wanted to know if the bank currently sees an opportunity to step up the pace of buybacks in order to reach its CET1 target. Nix said the company's current stock price "is making our repurchases more effectual, and we're able to repurchase more shares than otherwise," but noted that buybacks are dictated by First Citizens' capital plan and said the company is "very hesitant to deviate from" that plan. In the first quarter, First Citizens' net income totaled $483 million, down 34% from the year-ago period in part because of a decline in net interest income. Results also included acquisition-related expenses of $42 million, plus costs related to taxes and write-downs of intangible assets. Earnings per share of $34.47 missed expectations. Analysts surveyed by S&P Capital IQ had expected the company to report $37.43 per share. On an adjusted basis, EPS for the quarter was $37.79. Meanwhile, net interest income of $1.7 billion was down 8.5% year over year, and fee income of $635 million was up 1.3%. Expenses, which totaled $1.5 billion, rose 8.5% as provisions for credit losses more than doubled to $154 million, up from $64 million in the year-ago quarter. First Citizens largely maintained its outlook for the rest of the year. It slightly reduced its net interest income expectations for 2025 to $6.55 billion-$6.95 billion, down from $6.6 billion-$7 billion it projected in January, and it increased its forecast for deposits to $163 billion-$168 billion, up from $162 billion-$167 billion. The loan growth forecast remained unchanged at $144 billion-$147 billion.
