First Citizens Got a Deal on SVB Assets

07:00am, Saturday, 01'st Apr 2023
Plus, Michael Kehoe, CEO of Kinsale Capital Group, talks about the specialty insurance landscape.
Here are seven major companies whose stocks moved on the week's news
Regulator Federal Deposit Insurance Corporation (FDIC) exercised its equity appreciation right in First Citizens BancShares Inc stock worth $500 million as part of a deal for the regional lender to bu
Piper Sandler's Stephen Scouten discusses the financial sector's underperformance this quarter.
Fund investors were net purchasers of money market funds while being net redeemers of equity funds, taxable bond funds, and tax-exempt fixed income funds for the week. On the domestic equity side of t

2 Preferred Stocks 'Disappear,' 4 Offered

02:20am, Friday, 31'st Mar 2023
As March 2023 comes to a close, we observe four new preferred stock / ETD offerings during the month, with yields ranging from 6.625% to 9.5%. Here is a comparison against the highest quality preferre
The discount on the assets makes the deal immensely accretive to First Citizens' tangible book value and earnings power. First Citizens is also getting new businesses that have performed very well in

6 Catalysts to Lead to a 2023 Equity Surge

09:59am, Wednesday, 29'th Mar 2023
The headlines are scary, areas of the market are volatile, and the future is always uncertain. However, investors who can look beyond the obvious and go against the crowd will likely have the upper ha
Silicon Valley Bank went under on March 10 after a run on deposits. It couldn't cover outflows because so much depositor money was tied up in long-term bonds that lost value as interest rates rose.
First Citizens BancShares, Inc. trades at 70% of book after the recent run up. During normal times, First Citizens has traded for 1.5 times book value.
Shares of First Citizens BancShares Inc climbed to a record high on Tuesday, extending gains for a second day after scooping up the assets of failed peer Silicon Valley Bank.
First Citizens' (FCNCA) subsidiary enters a deal to buy a chunk of Silicon Valley Bank following its collapse.
D.A. Davidson on Tuesday hiked its price target by $200 to $1,025 a share for First Citizens Bancshares Inc. FCNCA, +53.74% but reiterated its neutral rating after a big rise in the stock in the previ
CNBC's Jim Cramer discusses the fallout from the Silicon Valley Bank implosion and how to trade shares of First Citizens after it stepped forward to buy the collapsed bank.
Cramer said the Fed will continue with rate hikes until wage inflation cools off, but that if another large bank like First Republic collapses, "it'll definitely do the job."
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