Stock fact sheet · data as of
First Citizens BancShares, Inc. (FCNCA): fair value, margin of safety and Wheel Score
Ticker symbol FCNCA · Financial Services · Banks - Regional · United States · Class A common stock · Value
FCNCA is First Citizens BancShares, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is FCNCA undervalued?
At 2,331.85 (close of 5 Nov 2026), FCNCA trades 60% below the GLS average fair value of 5,770.93. That average comes from 9 models run on the latest filings, and 7 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns First Citizens BancShares, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between DDM (123.60) and DCF (17,815.05). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, FCNCA is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 72, growth score 50, out of 100).
Nine valuation models for FCNCA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 17,815.05 | +664% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 3,028.97 | +30% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 4,255.50 | +82% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 1,272.51 | -45% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 13,016.15 | +458% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 4,598.19 | +97% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 5,466.00 | +134% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 123.60 | -95% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 2,362.36 | +1% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -3,551.07 | -252% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 2,448.00 | +5% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
First Citizens BancShares, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. On durability FCNCA scores 7.2/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are thin or negative - ROIC 3.8%, ROE 9.9%, ROA 1.0% - with debt at 1.62 times equity and a free-cash-flow yield of 6.0%.
The dividend yield is 0.36% with a payout ratio of 6% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Commercial Bank 46%, General Bank 41%, Rail 7% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded Congressional buy was on 9 Sep 2026.
| Piotroski F-score | 7 / 9 | ROIC | 3.8% |
|---|---|---|---|
| GLS Moat | 7.2 / 10 | ROE | 9.9% |
| Debt / equity | 1.62 | ROA | 1.0% |
| Free-cash-flow yield | 6.0% | Payout ratio | 6% |
| Institutions | 7 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 50: Fair
A Wheel Score of 50 keeps First Citizens BancShares, Inc. under 70, the mark only a stock that passes all 9 Wheel Trade Filters can reach: it fails filter 1, options that actually trade - options too quiet (954 open interest, 488 a day). The parts: value strong, premium fair, moat good, health good, red flags strong, option trading weak, stability strong.
Implied volatility is 29% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is thin - 954 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 69k shares a day on a market cap of $25.9B, with a beta of 0.60 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (954 open interest, 488 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 60% below fair value | |
| Premium | Fair | implied volatility 29% | |
| Moat | Good | moat 7.2/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 95/100 | |
| Option trading | Weak | 488 contracts a day, 954 open interest | |
| Stability | Strong | beta 0.60, $25.9B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 22 Jan 2027, 78 days away - outside the window of a 30-45-day put sold today. The shares go ex-dividend on 30 Nov 2026 (2.25 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Analysts downgraded FCNCA 1 time in the last 30 days with no upgrades; the latest action was a reiterated rating by UBS on 26 Oct 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to First Citizens BancShares, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| RF Regions Financial Corporation | 29.03 | 29.12 | +0% | 36Weak | $24.7B |
| BBDO Banco Bradesco S.A. | 2.44 | 16.58 | +85% | 40No options | $27.3B |
| FCNCP First Citizens BancShares, Inc. | 18.13 | 2,716.08 | +99% | 40No options | $27.3B |
| FCNCB First Citizens BancShares, Inc. | 1,830.00 | 5,222.46 | +65% | 40No options | $24.4B |
| CFG Citizens Financial Group, Inc. | 65.90 | 79.25 | +17% | 70Good | $27.6B |
| BBD Banco Bradesco S.A. | 2.57 | 17.92 | +86% | 59Fair | $28.3B |
| KEY KeyCorp | 21.55 | 25.37 | +15% | 71Good | $23.3B |
| FCNCO First Citizens BancShares, Inc. | 18.55 | 2,717.08 | +99% | 39No options | $22.4B |
| CIB Grupo Cibest S.A. | 94.38 | 180.87 | +48% | 87Prime | $22.3B |
| SHG Shinhan Financial Group Co., Ltd. | 65.06 | 212.28 | +69% | 52Fair | $30.1B |
| HBANP Huntington Bancshares Incorporated | 15.02 | 17.34 | +13% | 28No options | $31.9B |
| HBAN Huntington Bancshares Incorporated | 16.06 | 17.83 | +10% | 41Weak | $32.4B |
⚖ Compare FCNCA with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about FCNCA
What kind of share is FCNCA?
FCNCA is First Citizens BancShares, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is FCNCA undervalued right now?
By the GLS models, yes: at 2,331.85 the stock is 60% below the average fair value of 5,770.93 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FCNCA and what does it mean?
FCNCA scores 50 out of 100 (Fair) - it fails Wheel Trade Filter 1. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FCNCA?
5,770.93 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does First Citizens BancShares, Inc. report earnings next?
The next earnings report is due on 22 Jan 2027, 78 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does FCNCA have listed options, and how liquid are they?
Yes. The nightly snapshot found 274 listed contracts with 954 open interest across all expiries and implied volatility of 29% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.