Is First Citizens BancShares ($FCNCA) Quietly Engineering a Banking Empire No One Saw Coming?
The chart below tells us FCNCA’s net income and earnings per share (EPS) growth year on year:
I don’t like this chart because it is greatly distorted by what happen in 2022/2023 when FCNCA acquired Silicon Valley Bank (SVB). Their net income jumped due to accounting for it, and naturally the fall off.
But aside from 2014, what you would notice is that 9 out of the 11 years, FCNCA show positive profit growth.
I want to put EPS Growth next to it because your EPS growth can be higher by the effects of your share buyback. FCNCA started share repurchase in 2018 and you can see the gradual deviation in EPS growth.
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