First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,323.50 Average Target Price from Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $2,323.50.

Several research firms have weighed in on FCNCA. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,141.49 on Monday. First Citizens BancShares has a twelve month low of $1,475.85 and a twelve month high of $2,412.93. The company has a market cap of $29.96 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The business’s 50 day moving average price is $2,143.80 and its two-hundred day moving average price is $2,065.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, analysts predict that First Citizens BancShares will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Institutional Investors Weigh In On First Citizens BancShares

A number of large investors have recently modified their holdings of the business. Blue Rock Wealth Management LLC bought a new stake in shares of First Citizens BancShares during the 4th quarter worth $211,000. Keel Point LLC raised its stake in First Citizens BancShares by 25.0% during the fourth quarter. Keel Point LLC now owns 160 shares of the bank’s stock worth $338,000 after acquiring an additional 32 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of First Citizens BancShares in the fourth quarter worth about $16,921,000. Utah Retirement Systems boosted its stake in shares of First Citizens BancShares by 0.6% in the 4th quarter. Utah Retirement Systems now owns 2,005 shares of the bank’s stock valued at $4,237,000 after purchasing an additional 11 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of First Citizens BancShares by 124.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,149 shares of the bank’s stock valued at $6,654,000 after purchasing an additional 1,746 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

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.