Is First Citizens BancShares ($FCNCA) Quietly Engineering a Banking Empire No One Saw Coming?
Again, the price is based on the End Feb for the following year.
Objective speaking, the PE based on historical is closer to 12 times currently. That number changes depending on the outstanding number of shares, and how you anticipate the earnings.
Mr. Huber said that the average PE is around 13 times in the last 20 years. If we throw out Covid, the average is closer to 15 times. FCNCA isn’t exactly cheap (not when he first wrote in Jan 2024, when the PE is 8 times).
But you got to consider what you are buying for the price.
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