Is First Citizens BancShares ($FCNCA) Quietly Engineering a Banking Empire No One Saw Coming?
Tangible Book Value Per Share Growth Tells Us If Value is Accumulating or Destroyed.
For a business that is simpler, that typically trades to the right or left of book value, its book value will tell us a lot. If you pay out all you earn as dividends, then your book value doesn’t grow. What you retain on your balance sheet will end up growing the book value. And you can use that to make acquisitions. But overtime, a value destroying acquisition will eventually impacted book value.
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