Is FBP or FCNCA more undervalued in 2026?

CirclFi compares First BanCorp. New (FBP) and First Citizens BancShares, Inc. (FCNCA) using 13 institutional-grade valuation models. FBP has a Quality of Company score of 9.3/10 while FCNCA scores 8.4/10.

Which is a better buy — FBP or FCNCA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do FBP and FCNCA valuations compare?

FBP at $24.01 and FCNCA at $2009.03 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

FBP vs FCNCA Valuation Comparison 2026 — Intrinsic Value Analysis

FBP

Banks - Regional

First BanCorp. New

Quality

9.3

out of 10

Value Trap

SAFE

Price

$24.01

Last close

Models

11/13

Active

FCNCA

Banks - Regional

First Citizens BancShares, Inc.

Quality

8.4

out of 10

Value Trap

—

Price

$2009.03

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	FBP Fair Value	FBP Upside	FCNCA Fair Value	FCNCA Upside
Bayesian DCF	Intrinsic	$13.95	-41.9%	—	—
Earnings Power Value	Intrinsic	$18.43	-23.2%	—	—
EROIC Spread	Intrinsic	$9.67	-59.7%	$510.60	-74.6%
First Chicago	Scenario	$26.71	+11.2%	$1507.38	-25.0%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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FBP vs FCNCA — Which Stock Is More Undervalued?

FBP scores higher with a 9.3/10 quality rating vs FCNCA's 8.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing First BanCorp. New (FBP) and First Citizens BancShares, Inc. (FCNCA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

FBP currently trades at $24.01 with a QOC of 9.3/10, while FCNCA trades at $2009.03 with a QOC of 8.4/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).