- First Citizens’ adjusted earnings per share (EPS) for the second quarter is $44.78, surpassing estimates of $39.43.
- Total loans and leases amount to $141.27 billion, slightly below the estimated $143.02 billion.
- The company’s Common Equity Tier 1 (CET1) ratio stands at a robust 12.1%.
- Net charge-offs total $119 million, performing better than the estimated $154.9 million.
- Chairman and CEO Frank B. Holding, Jr., attributes the solid financial results to revenue growth and positive credit performance.
- Analyst recommendations include 10 buys, 6 holds, and 0 sells for First Citizens.
A look at First Citizens Bcshs Cl A Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
First Citizens BancShares, Inc., the parent company of First-Citizens Bank & Trust Company and Ironstone Bank, appears to have a promising long-term outlook based on the Smartkarma Smart Scores. The company scored well in Growth, indicating a positive trajectory for expanding its operations. With a high Value score and solid Momentum, First Citizens Bcshs Cl A seems to offer good value for investors and is showing positive market momentum. While its Dividend score is moderate, the overall outlook is bolstered by a decent Resilience score, suggesting a level of stability in uncertain times.
First Citizens Bcshs Cl A, serving regions in North Carolina, Virginia, West Virginia, Georgia, and Florida through its banking subsidiaries, may be positioned for sustained growth and value creation in the foreseeable future. Investors interested in a company with a strength in growth potential and a solid value proposition could find First Citizens BancShares, Inc. an attractive option for their long-term investment portfolios.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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