First Citizens BancShares, Inc. (FCNCA): A Bear Case Theory

We came across a bearish thesis on First Citizens BancShares, Inc. (FCNCA) on Waterboy’s Substack by Waterboy Investing. In this article, we will summarize the bulls’ thesis on FCNCA. First Citizens BancShares, Inc.'s share was trading at $2059.01 as of Oct 21^st. FCNA’s trailing and forward P/E were 11.33 and 11.47 respectively according to Yahoo Finance.

[caption id="attachment_1238699" align="aligncenter" width="768"] A view of a busy banking hall, customers engaging with banking staff to conduct their financial transactions.[/caption]

First Citizens BancShares ($FCNCA),...