| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 99 | 0.1x | 17.4x | Top tier | |
Growth | 26 | 13.2% | 7.1% | Bottom tier | |
Quality | 63 | — | — | Around median | |
Safety | 14 | — | — | Bottom tier | |
Capital Return | 100 | 79.59% | 0.18% | Top tier | |
Momentum | 20 | -11.1% | 1.3% | Bottom tier | |
Sentiment | 1 | 1 | 3 | Bottom tier |
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
First Citizens BancShares operates through a diversified banking franchise that includes General Banking, Commercial Banking, Global Fund Banking, Tech & Healthcare, Middle Market Banking, Direct Bank, and Wealth Management. Revenue comes from net interest income on loans and interest-earning assets, as well as investment and wealth management fees, deposit and lending fees, card and merchant fees, international finance, factoring, and rail leasing operations; it also manages off-balance-sheet client funds within SVB Commercial relationships.
In fiscal Q2 2026, ended 2026-06-30, revenue was $3.6 billion, up 51.9% year over year from $2.4 billion in fiscal Q2 2025, while net income was $672.0 million and diluted earnings per share were 55.48. Gross margin was 67.1% and operating margin was 24.7%, compared with 95.2% and 31.9%, respectively, a year earlier. Operating cash flow was $1.0 billion, while business growth was distributed across a $2.6 billion increase in Global Fund Banking loans, sequential growth of 3.7% in Tech & Healthcare, and a $205 million increase in Middle Market Banking loans.
Loans at the end of fiscal Q2 2026 grew by $2.3 billion, or 1.6% sequentially, and deposits increased by $2.6 billion, or 1.5%, supported by the Direct Bank adding $2.8 billion. In contrast, Commercial Bank deposits declined by $1.5 billion due to expected corporate outflows, while SVB Commercial client funds both off and on the balance sheet increased, reflecting continued activity in Tech & Healthcare and Global Fund Banking. Craig Nix served as Chief Financial Officer on the 2026-07-23 call.
Q2 FY2026
When: 2026-10-22
Total fiscal Q3 2026 loans at the $152 billion threshold
Total fiscal Q3 2026 deposits at the $179 billion threshold
Fiscal Q3 2026 net interest income at the $1.63 billion threshold
The analyst consensus on FCNCP is “Buy.” The consensus does not include a dollar-denominated target value that would allow analysts' estimates to be compared with one another. Therefore, this consensus alone does not establish a numerical valuation range and cannot be used to select a single value as the stock's fair value.
Figures in the text are as of 2026-09-27; the live price is shown at the top of the page.
In fiscal Q2 2026, ended 2026-06-30, revenue was $3.6 billion, representing annual growth of 51.9%, while net income was $672.0 million and diluted earnings per share were 55.48. Loans increased by 1.6% sequentially, supported by a $2.6 billion increase in Global Fund Banking and 3.7% growth in Tech & Healthcare. Noninterest income also benefited from a $27 million gain in the equity securities portfolio and a $17 million gain from the sale of a tax credit investment.
The net charge-off rate improved to 29 basis points in fiscal Q2 2026, ended 2026-06-30, and nonaccrual loans remained at 96 basis points of total loans. Management expects net charge-offs between 30 and 40 basis points in fiscal Q3 2026 and between 30 and 35 basis points for the full fiscal 2026. Monitoring is concentrated on commercial office real estate and innovation portfolios, where the company expects some charge-offs to continue over the medium term.
Automated analysis for informational purposes only — not investment advice.
Fiscal Q3 2026 net charge-off rate at the 40 basis point threshold
First Citizens expects to complete the acquisition of BMO branches in fiscal Q3 2026. It estimates that the acquisition will add approximately $700 million to the loan portfolio and approximately $5.3 billion to deposits. This is included in guidance for loans between $152 billion and $155 billion and deposits between $179 billion and $182 billion for the same quarter.
Through 2026-07-21, the company had repurchased more than 20% of outstanding common shares for $6.3 billion, equivalent to approximately 84% of the total authorization. The CET1 ratio was 10.77% at the end of fiscal Q2 2026, and management intends to slow repurchases to approximately $600 million in Q3 and approximately $300 million in Q4. Cumulative early payments on the FDIC purchase money note also totaled approximately $8.5 billion through July 2026, with a target payment of $6 billion to $8 billion in Q3.
Management described deposit competition as intense on the 2026-07-23 call, with the Direct Bank's spot rate at 3.71% and its highest offered rate at 4.1%. The Direct Bank added $2.8 billion in deposits in fiscal Q2 2026, but Commercial Bank deposits declined by $1.5 billion due to expected corporate outflows. Management believes higher funding costs reduce the benefit of asset sensitivity to interest rates, so its plan also relies on branch growth, long-term funding, and brokered deposits when needed.
The targeted loan range of $152 billion to $155 billion for fiscal Q3 2026 will measure the continuation of growth in Global Fund Banking, Tech & Healthcare, and General Banking. The deposit range of $179 billion to $182 billion will show the extent to which BMO branches and the Direct Bank contributed to funding the balance sheet. Net interest income between $1.63 billion and $1.71 billion and net charge-offs between 30 and 40 basis points will also measure the company's ability to balance funding costs and credit quality.
