First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Average Rating of “Moderate Buy” from Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2,238.2727.

FCNCA has been the subject of several analyst reports. The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. JPMorgan Chase & Co. increased their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Piper Sandler raised their price target on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, TD Cowen dropped their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research note on Monday, January 26th.

First Citizens BancShares Trading Up 0.3%

Shares of FCNCA opened at $2,001.11 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. First Citizens BancShares has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 12.08 and a beta of 0.70. The firm has a 50 day simple moving average of $2,107.16 and a 200-day simple moving average of $1,955.65.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Equities analysts forecast that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Institutional Trading of First Citizens BancShares

Institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in First Citizens BancShares during the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the 3rd quarter valued at $27,000. UMB Bank n.a. boosted its position in First Citizens BancShares by 100.0% during the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Steph & Co. purchased a new stake in First Citizens BancShares during the 3rd quarter worth $32,000. Finally, Root Financial Partners LLC acquired a new stake in First Citizens BancShares in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.