First Citizens BancShares, Inc. (FCNCA) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: First Citizens BancShares, Inc.

Market cap $26B · 52 weeks $1,766 – $2,382 (1 % below the high) · P/E 12.1× · 2027 expected P/E 11.2× · Dividend 0.36 % · 8 years rising · Next earnings January 22, 2027 · expected EPS $51.87 · Closing price, Oct 30 · accounts published Oct 23.

• Valuation: P/B 1.2× (justified).
• Business: ROTCE 10.2 % (weak).
• Balance sheet: Capital/assets 9.7 % (solid).
• Earnings: 7 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROTCE 10.2 % (1.3×) $2,493 (+6 %); at its peers' median (1.2×) $2,397 (+2 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in banking: 2 of 4 pass

• ROTCE 10.2 %, fails.
• ROA 1.0 %, borderline.
• Equity / Assets (Tier 1 proxy) 9.7 %, passes.
• P/B (Price / Book) 1.2×, passes.
• Sustainable dividend yield 0.4 %, info.

Against its peers (reference peers) — First Citizens BancShares, Inc.: P/E 12.1×; P/B 1.2×; ROE 10.9 %; $26.1B. Citizens Financial Group, Inc. (P/E 12.9×; P/B 1.1×; ROE 8.7 %; $26.7B), Regions Financial Corporation (P/E 11.2×; P/B 1.4×; ROE 12.3 %; $24.3B), KeyCorp (P/E 11.6×; P/B 1.2×; ROE 10.9 %; $22.8B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 1.2× · median 1.5× · minimum 0.8× · maximum 2.7× · cheap below 1.3× · expensive above 1.8×. It has been cheaper than today only 20% of the time over its last ten fiscal years.

Dividend

solid · Yield 0.36 % ($13.02 per share in 2025) · Years raising it 8 · 5-year growth +34 % a year · Free cash flow coverage payout 7 % · With $1,000 invested today you'd collect $3.60 a year ($0.30 a month).