Is First Citizens BancShares, Inc. (North Carolina) overvalued or undervalued?

As of 25 April 2024, the valuation grade for First Citizens BancShares, Inc. has moved from attractive to fair. The company is currently fairly valued based on its financial metrics. The P/E ratio stands at 9, which is below the industry average, while the Price to Book Value is at 1.10, indicating a reasonable valuation relative to its assets. Additionally, the EV to EBITDA ratio is 10.00, suggesting that the company is priced fairly in relation to its earnings before interest, taxes, depreciation, and amortization.
In comparison to peers, First Citizens BancShares has a P/E ratio of 8.87, which is lower than M&T Bank Corp.'s 12.00, indicating that it may be undervalued relative to this competitor. However, it is also significantly lower than Fiserv, Inc., which has a P/E of 34.15, highlighting that First Citizens is more attractively priced in the market. Despite a recent dip in YTD performance of -10.58% compared to the S&P 500's 2.44%, the company's strong historical returns over 3 and 5 years suggest resilience and potential for future growth.