First Citizens BancShares Inc (NASDAQ: FCNCA) has reported E.P.S. of $47.54 for its second fiscal quarter (ending June 30) versus $45.90 for the same period a year ago — an increase of 4%. This performance was $2.82 better than the consensus estimate of $44.72. For the latest four quarters through June 30, E.P.S. were $181.88 compared to $736.06 a year ago — a decline of -75%.
Recent Price Action
On 7/25/24, First Citizens BancShares Inc (NASDAQ: FCNCA) stock enjoyed a major increase of 10.1%, closing at $2051.05. Moreover, this advance was accompanied by exceptionally high trading volume at 289% of normal. Relative to the market the stock has been strong over the last nine months and has risen 11.8% during the last week.
Current PriceTarget Research Rating
FCNCA’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
First Citizens BancShares has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. First Citizens BancShares has a good Power Rating of 72 and a very high Appreciation Score of 98, leading to the Highest Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and very positive price change we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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