Why is First Citizens BancShares (FCNCA) stock soaring today

Shares of regional banking company First Citizens BancShares (NASDAQGS:FCNC.A) jumped 8.6% in the afternoon session after the company reported third-quarter 2026 results above Wall Street expectations and authorized a share repurchase plan of up to $1.2 billion. According to the company’s press release, First Citizens reported revenue of $2.43 billion, up 8% from a year earlier, and adjusted earnings of $55.37 a share, up from $44.62 in the third quarter of 2025. Both were well ahead of consensu