First Citizens BancShares (NASDAQ:FCNCA) Given New $2,625.00 Price Target at The Goldman Sachs Group

First Citizens BancShares (NASDAQ:FCNCA) had its price objective boosted by The Goldman Sachs Group from $2,025.00 to $2,625.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other equities analysts have also recently commented on FCNCA. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lowered their target price on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Barclays increased their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,308.48 on Tuesday. The stock has a market capitalization of $32.30 billion, a P/E ratio of 13.23 and a beta of 0.80. The company’s fifty day moving average price is $2,041.80 and its 200 day moving average price is $1,904.59. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a 1 year low of $1,363.97 and a 1 year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $55.92 EPS. As a group, equities research analysts anticipate that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.34%. First Citizens BancShares’s payout ratio is 3.76%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in First Citizens BancShares by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank’s stock valued at $14,339,000 after buying an additional 365 shares during the period. Janus Henderson Group PLC raised its stake in shares of First Citizens BancShares by 1.2% in the 1st quarter. Janus Henderson Group PLC now owns 903 shares of the bank’s stock valued at $1,475,000 after acquiring an additional 11 shares during the period. Tidal Investments LLC lifted its holdings in shares of First Citizens BancShares by 11.7% in the 1st quarter. Tidal Investments LLC now owns 592 shares of the bank’s stock worth $968,000 after acquiring an additional 62 shares during the last quarter. Comerica Bank boosted its position in shares of First Citizens BancShares by 62.6% during the 1st quarter. Comerica Bank now owns 3,829 shares of the bank’s stock worth $6,260,000 after purchasing an additional 1,474 shares during the period. Finally, Plato Investment Management Ltd increased its holdings in First Citizens BancShares by 1,271.4% in the 1st quarter. Plato Investment Management Ltd now owns 384 shares of the bank’s stock valued at $628,000 after purchasing an additional 356 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.