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Stop the presses! Stop the presses!! $$$MR. MARKET$$$ now has 12 consecutive profitable trades of 15% or better. The man is unbelievable. I am ripping through the stock market like a gorilla through marshmallows. Today I sold FCNCA at 1799.85. That is an 18% gain over my purchase price of 1524.70 on February 2, 2024. Over the same period, the S&P 500 was up only 2.3%. While $$$MR. MARKET$$$ is making money, the market is barely treading water. I am HUGE!!! I hit my target in only 83 days. That’s an annualized return of 79%. Can you do that? You? YOU?? YOU???!!!!
I am the Greatest of all time, (crowd sing along) I am the Man, the Myth, the Legend. The only person that comes close is Neil Armstrong, who walked on the moon. I would have been an astronaut but I was too HUGE to fit into the space capsule.
The best news is that another $$$MR. MARKET$$$ pick is coming soon. Who can hardly wait? You? You?? YOU??!! I am HUGE!!
How HUGE is $$$MR. MARKET$$$??
Now give me my props. You must tell me what you think of me or else I will not make anymore stock picks.
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02-03-2024, 03:31 PM
FCNCA ==> The Lake Spike Winner
($$$MR. MARKET$$$ is a proprietary investor and does not provide individual financial advice. The stocks mentioned on this forum do not represent individual buy or sell recommendations and should not be viewed as such. Individual investors should consider speaking with a professional investment adviser before making any investment decisions.)
Did you ever go to a flea market, Value Village, Spags or Building 19? What do you find? Sometimes you find good stuff that is really really cheap. Once upon a time there was a very successful bank that went by the name of Silicon Valley Bank. On March 10, 2023, Silicon Valley Bank failed after a bank run, marking the third-largest bank failure in United States history and the largest since the 2007–2008 financial crisis. What happened? It was a panic withdrawal of funds which was exacerbated by the sudden increase in interest rates as they couldn’t match the duration of their loans with their deposits. Everyone got on their smart phones and wanted to take their money out. Inevitably, the bank was destroyed although its structure never changed. The bones were still there. Who was there to put the pieces back together?
First Citizens BancShares, Inc. (FCNCA), is a financial holding company incorporated under the laws of Delaware and headquartered in Raleigh, North Carolina. First Citizens Bank helps consumer, business and commercial clients build financial strength that lasts. Founded in 1898 First Citizens Bank has grown to more than $200 billion in total assets and operates a network of more than 500 branches in 23 states as well a nationwide direct bank. The acquisition of Silicon Valley Bank has expanded FCNCA's reach and diversified its revenue streams. So yesterday I bought FCNCA at 1524.70. I will sell it in 4 to 6 weeks at 1753.41. Here’s why I like this stock:
Quite an impressive chart! This stock is up 95% over the last 12 months. Meanwhile its PE is only 1.9. That’s not a type. Its PE is 1.9. Why is this stock so cheap? It’s because of the SVB acquisition. They basically absorbed an enormously profitable company and paid virtually nothing for it. It’s like getting a free spin on a slot machine. So you have a mammoth bank that is well positioned for excellent growth in 2024 and yet its valuation is so attractive it’s not funny. It’s like finding a Ralph Lauren suit at Joseph A Banks.
Traditionally First Citizens was a leading regional bank headquartered in North Carolina – a geographical region of above average growth. The bank has a dominant footprint across the Southeast, and they have been able to grow both organically and through aquisitions. CIT Bank previously operated as a division of CIT , which merged with and became a division of First Citizens Bank in January 2022. This was almost immediately followed by the SVB purchase, which was a lot like fish jumping into the boat. But the underlying business of SVB is still quite valuable and their customers are heavily weighted in the tech community. Have you noticed how well the tech stocks did last year?
First Citizen’s shares are trading at only around 1.0 times book value which is somewhere between a 15% - 20% discount to its industry peers. Once the ANAL-ysts get another quarter of data to analyzed they will see that First Citizens should be trading higher and they will issue buy recommendations. Bank on it. Despite what political critics are saying about our economy right now, we are seeing growth in both the GDP and labor markets. Both of these factors will propel profitability in the big banks. First Citizens also has unique competitive advantages in areas such as wealth management and technology banking which they can leverage into higher margin businesses.
First Citizens has always been a good bank with solid management. Now they have a diverse portfolio of business. Presently the integration of their acquisitions have left ANAL-ysts confused although this is a complete no brainer. They are taking their little spreadsheets and trying to reconcile the complexity (asset sales, balance sheet mix, asset quality, etc.) which in the short run will tamp down their PE. However it really can’t get any lower than it is now. Already equities research analysts at Wedbush raised their Q1 2024 earnings per share estimates for First Citizens in a report issued last week with a $1,800.00 price objective on the stock. UBS Group increased their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a recent research note. The company insiders don’t feel much differently.
Chairman and CEO Frank Holding, Jr. said: “Our fourth quarter financial results remained solid as we completed what was a truly exceptional year. While celebrating our bank’s 125th anniversary, we completed our integration with CIT and finished strong with the stabilization of SVB, all while our teams continued to support our clients. We now look forward to 2024, remaining focused on prudent risk management, growing our core lines of business, and maintaining solid capital and liquidity positions. We continue to be well-positioned to deliver strong financial results and long-term tangible book value growth for our stockholders.”
When you buy one and get one free, it’s rarely a losing proposition and First Citizens Bank will take me to the pay window.
$$$MR. MARKET$$$
I am the Greatest of all time, (crowd sing along) I am the Man, the Myth, the Legend. The only person that comes close is Neil Armstrong, who walked on the moon. I would have been an astronaut but I was too HUGE to fit into the space capsule.
The best news is that another $$$MR. MARKET$$$ pick is coming soon. Who can hardly wait? You? You?? YOU??!! I am HUGE!!
How HUGE is $$$MR. MARKET$$$??
- $$$MR. MARKET$$$ drinks water from Camp LeJeune
- $$$MR. MARKET$$$ once bowled a perfect game with a marble
- $$$MR. MARKET$$$’s dog is trained to pick up his own poop because $$$MR. MARKET$$$ will not take crap from anyone.
- When the sun was a child it was told by it’s parents never to stare directly at $$$MR. MARKET$$$.
- $$$MR. MARKET$$$ suspended Mark Zuckerberg's facebook account.
Now give me my props. You must tell me what you think of me or else I will not make anymore stock picks.
================================================== ===========================
02-03-2024, 03:31 PM
FCNCA ==> The Lake Spike Winner
($$$MR. MARKET$$$ is a proprietary investor and does not provide individual financial advice. The stocks mentioned on this forum do not represent individual buy or sell recommendations and should not be viewed as such. Individual investors should consider speaking with a professional investment adviser before making any investment decisions.)
Did you ever go to a flea market, Value Village, Spags or Building 19? What do you find? Sometimes you find good stuff that is really really cheap. Once upon a time there was a very successful bank that went by the name of Silicon Valley Bank. On March 10, 2023, Silicon Valley Bank failed after a bank run, marking the third-largest bank failure in United States history and the largest since the 2007–2008 financial crisis. What happened? It was a panic withdrawal of funds which was exacerbated by the sudden increase in interest rates as they couldn’t match the duration of their loans with their deposits. Everyone got on their smart phones and wanted to take their money out. Inevitably, the bank was destroyed although its structure never changed. The bones were still there. Who was there to put the pieces back together?
First Citizens BancShares, Inc. (FCNCA), is a financial holding company incorporated under the laws of Delaware and headquartered in Raleigh, North Carolina. First Citizens Bank helps consumer, business and commercial clients build financial strength that lasts. Founded in 1898 First Citizens Bank has grown to more than $200 billion in total assets and operates a network of more than 500 branches in 23 states as well a nationwide direct bank. The acquisition of Silicon Valley Bank has expanded FCNCA's reach and diversified its revenue streams. So yesterday I bought FCNCA at 1524.70. I will sell it in 4 to 6 weeks at 1753.41. Here’s why I like this stock:
Quite an impressive chart! This stock is up 95% over the last 12 months. Meanwhile its PE is only 1.9. That’s not a type. Its PE is 1.9. Why is this stock so cheap? It’s because of the SVB acquisition. They basically absorbed an enormously profitable company and paid virtually nothing for it. It’s like getting a free spin on a slot machine. So you have a mammoth bank that is well positioned for excellent growth in 2024 and yet its valuation is so attractive it’s not funny. It’s like finding a Ralph Lauren suit at Joseph A Banks.
Traditionally First Citizens was a leading regional bank headquartered in North Carolina – a geographical region of above average growth. The bank has a dominant footprint across the Southeast, and they have been able to grow both organically and through aquisitions. CIT Bank previously operated as a division of CIT , which merged with and became a division of First Citizens Bank in January 2022. This was almost immediately followed by the SVB purchase, which was a lot like fish jumping into the boat. But the underlying business of SVB is still quite valuable and their customers are heavily weighted in the tech community. Have you noticed how well the tech stocks did last year?
First Citizen’s shares are trading at only around 1.0 times book value which is somewhere between a 15% - 20% discount to its industry peers. Once the ANAL-ysts get another quarter of data to analyzed they will see that First Citizens should be trading higher and they will issue buy recommendations. Bank on it. Despite what political critics are saying about our economy right now, we are seeing growth in both the GDP and labor markets. Both of these factors will propel profitability in the big banks. First Citizens also has unique competitive advantages in areas such as wealth management and technology banking which they can leverage into higher margin businesses.
First Citizens has always been a good bank with solid management. Now they have a diverse portfolio of business. Presently the integration of their acquisitions have left ANAL-ysts confused although this is a complete no brainer. They are taking their little spreadsheets and trying to reconcile the complexity (asset sales, balance sheet mix, asset quality, etc.) which in the short run will tamp down their PE. However it really can’t get any lower than it is now. Already equities research analysts at Wedbush raised their Q1 2024 earnings per share estimates for First Citizens in a report issued last week with a $1,800.00 price objective on the stock. UBS Group increased their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a recent research note. The company insiders don’t feel much differently.
Chairman and CEO Frank Holding, Jr. said: “Our fourth quarter financial results remained solid as we completed what was a truly exceptional year. While celebrating our bank’s 125th anniversary, we completed our integration with CIT and finished strong with the stabilization of SVB, all while our teams continued to support our clients. We now look forward to 2024, remaining focused on prudent risk management, growing our core lines of business, and maintaining solid capital and liquidity positions. We continue to be well-positioned to deliver strong financial results and long-term tangible book value growth for our stockholders.”
When you buy one and get one free, it’s rarely a losing proposition and First Citizens Bank will take me to the pay window.
$$$MR. MARKET$$$
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