First Citizens BancShares, Inc. (FCNCA) To Go Ex-Dividend on August 31st

First Citizens BancShares, Inc. (NASDAQ:FCNCA) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Monday, August 31st will be paid a dividend of 2.10 per share by the bank on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 31st.

First Citizens BancShares has raised its dividend by an average of 0.4%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. First Citizens BancShares has a dividend payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Citizens BancShares to earn $196.46 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 4.3%.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,194.07 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares has a twelve month low of $1,623.76 and a twelve month high of $2,296.30. The firm’s 50 day moving average price is $2,152.66 and its two-hundred day moving average price is $2,033.15. The firm has a market cap of $24.77 billion, a P/E ratio of 11.73, a PEG ratio of 1.63 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, analysts forecast that First Citizens BancShares will post 192.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FCNCA shares. Piper Sandler upped their target price on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings upgraded First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, July 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 9th. Finally, Truist Financial increased their price objective on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2,278.31.

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.