DA Davidson Has Positive Outlook for FCNCA FY2025 Earnings

First Citizens BancShares, Inc. (NASDAQ:FCNCA) – Research analysts at DA Davidson upped their FY2025 earnings per share estimates for First Citizens BancShares in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings per share of $162.31 for the year, up from their previous forecast of $160.50. The consensus estimate for First Citizens BancShares’ current full-year earnings is $187.88 per share.

A number of other equities analysts have also recently commented on FCNCA. Wedbush dropped their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on 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. Keefe, Bruyette & Woods lowered First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2,243.64.

First Citizens BancShares Stock Up 1.2 %

FCNCA opened at $2,152.98 on Monday. The company has a market capitalization of $30.12 billion, a PE ratio of 12.33 and a beta of 0.83. The firm has a 50-day simple moving average of $2,129.52 and a two-hundred day simple moving average of $1,961.40. 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 has a 52 week low of $1,363.97 and a 52 week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter in the previous year, the company earned $55.92 earnings per share.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp increased its position in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares during the period. Wedbush Securities Inc. increased its holdings 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 purchasing an additional 6 shares during the period. Metis Global Partners LLC raised its stake in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of First Citizens BancShares by 3.9% during the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after purchasing an additional 7 shares during the period. Finally, Tandem Capital Management Corp ADV lifted its holdings in shares of First Citizens BancShares by 1.8% during the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

About First Citizens BancShares

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.