First Citizens BancShares (FCNCA) Stock

RALEIGH, N.C., Oct. 28, 2024 /PRNewswire/ -- First Citizens Wealth, which is part of First Citizens Bank, has released new findings from its "Beyond Wealth" study that provide new information about wealthy business owners.

First Citizens BancShares, Inc. (NASDAQ:FCNCA) held its Q3 2024 Earnings Call on October 24, 2024, at 9:00 AM ET. The call featured key company participants, including Deanna Hart, Frank Holding, Craig Nix, Tom Eklund, and Marc Cadieux. Various conference call participants from different financial institutions also joined the discussion.

First Citizens BancShares (FCNCA) reported quarterly earnings of $45.87 per share, which is lower than the Zacks Consensus Estimate of $47.94 per share. This is a decrease compared to earnings of $55.92 per share from the same period last year.

The main figures for First Citizens (FCNCA) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare some important metrics with Wall Street predictions and the results from the same period last year.

The 2024 report shows that fintech founders are working hard to improve their profits, even though investments have dropped by 91% since their peak in 2021. According to the Future of Fintech Report from Silicon Valley Bank, these companies are facing challenges like high interest rates and stricter regulations, but they are also finding new opportunities. Venture capital investment is low, with more early-stage deals happening compared to series A deals.

To better understand how First Citizens (FCNCA) might perform in the quarter ending September 2024, look beyond Wall Street's basic profit and loss predictions. Instead, focus on the estimates for some of its important metrics. This will give you a clearer picture of the company's potential performance.

Healthtech investments are now exceeding levels seen before the pandemic, stabilizing between $3.5 billion and $4.5 billion each quarter in 2024. According to the 2024 Future of Healthtech Report from Silicon Valley Bank, the sector is showing signs of recovery, with artificial intelligence contributing to new growth. Despite some market challenges, healthtech investment is on a positive path this year.

First Citizens (FCNCA) could see an increase in value due to rising confidence in its earnings potential, as indicated by its upgrade to a Zacks Rank #2 (Buy).

First Citizens (FCNCA) has the potential to generate impressive profits due to its strong growth characteristics.