Financial PerformanceFirst Citizens reported a strong quarter on most fronts, with positive guidance update for NII and NCOs, and an impressive growth in deposits and loans across all areas of the bank.
Strategic AcquisitionsAnalyst maintains OUTPERFORM rating, highlighting the potential accretion benefits from the successful integrations of CIT and SVB, underpinned by the company's solid capital base and strong credit quality.
Valuation And Potential UpsideFirst Citizens BancShares is initiated with a Buy rating and a $1,950 price target, suggesting a significant upside, bolstered by its position to deliver robust returns over time and potential for market cap return via buybacks.