First Citizens BancShares, Inc. (FCNCA), a top-20 U.S. bank with $229.65 billion in assets and a member of the Fortune 500, has consistently stood out for its disciplined expansion through FDIC-assisted acquisitions. We’ve covered FCNCA multiple times in our Monthly Newsletter and Insider Weekends, and I initially presented the stock at ValueX Vail shortly after its game-changing acquisition of Silicon Valley Bank, which instantly doubled its asset base.
We decided to revisit the company on account of a new development at the company: a recently announced $4 billion stock buyback representing roughly 14% of its market cap at the time of announcement. This development is backed by insider buying, creating a classic Double Dipper scenario where both executives and the company are actively acquiring shares, signaling strong internal confidence.