Is First Citizens BancShares ($FCNCA) Quietly Engineering a Banking Empire No One Saw Coming?

But if a firm can build up book value over time:

1. It is earning and keeping money.
2. It may be making good use of that money.

If we pair that with a reflection of ROTCE or ROE, it can let us know if it makes more sense to keep money with this bank or to deploy ourselves.

But book value won’t tell dilution as the company can issue a lot of shares to others. Just like REITs, where Dividend per unit tells more than dividend income, reflecting on tangible book value per share tells us more:

The chart above shows the tangible book value per share growth (pardon the title misnaming) over the years. If you own one share of FCNCA in 2013, you don’t see much dividends.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37