FCNCA

First Citizens Bancshares, Inc (NC) - Ordinary Shares - Class A

Finance/Real Estate, Event Driven/Special Sit


Presented:03/27/2023
Price:$895.61
Cap:$12.99B
Current Price:$2,026.58
Cap:$29.32B

Presented

Date03/27/2023
Price$895.61
Market Cap$12.99B
Ent Value$18.44B
P/E Ratio13.27x
Book Value$605.33
Div Yield0.27%
Shares O/S14.51M
Ave Daily Vol154,373
Short Int1.90%

Current

Price$2,026.58
Market Cap$29.32B
First Citizens BancShares, Inc. is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks. The Commercial Banking provides lending, leasing and other financial and advisory services to small and middle market companies. The Rail segment deals with the provision of equipment leasing and secured financing for railroads and shippers. The Corporate segment is comprised of investment securities and interest bearing cash. The company was founded on August 7, 1986 and is headquartered in Raleigh, NC.

Publicly traded companies mentioned herein: First Citizens BancShares (FCNCA), SVB Financial Group (SVB), 

Highlights 

The presenter is long shares of First Citizens BancShares (FCNCA) based on the recent announcement it would acquire $72B of loans and deposits of Silicon Valley Bank (SVB) from the FDIC at a $16.5B discount. As is now commonly known, Silicon Valley Bank loaded up on bonds that are now worth much less as the Federal Reserve raised interest rates. The deal should create a positive impact on First Citizen’s $8.3B book value prior to the transaction.

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Idea Discussion

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