Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Price Target at $1,920.82

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $1,927.90.

FCNCA has been the subject of a number of research analyst reports. Piper Sandler upped their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Barclays upped their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Jefferies Financial Group began coverage on First Citizens BancShares in a research report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective on the stock in a report on Tuesday, July 2nd.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,939.57 on Friday. The firm’s 50 day simple moving average is $1,944.98 and its 200 day simple moving average is $1,757.03. First Citizens BancShares has a fifty-two week low of $1,274.91 and a fifty-two week high of $2,174.80. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 10.77 and a beta of 0.82. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.91 by $5.96. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. During the same period in the previous year, the firm earned $52.60 EPS. As a group, sell-side analysts forecast that First Citizens BancShares will post 200.92 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $1.64 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.56 annualized dividend and a yield of 0.34%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its holdings in First Citizens BancShares by 2.9% during the 1st quarter. Covestor Ltd now owns 215 shares of the bank’s stock worth $352,000 after purchasing an additional 6 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock valued at $2,019,000 after acquiring an additional 6 shares in the last quarter. Quadrant Capital Group LLC increased its position in First Citizens BancShares by 4.4% during the fourth quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock worth $234,000 after acquiring an additional 7 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in First Citizens BancShares by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock worth $229,000 after acquiring an additional 7 shares during the period. Finally, Park Avenue Securities LLC raised its stake in First Citizens BancShares by 1.6% in the 1st quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock worth $736,000 after purchasing an additional 7 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.