First Citizens BancShares (NASDAQ:FCNCA) Announces Quarterly Earnings Results

First Citizens BancShares (NASDAQ:FCNCA) issued its quarterly earnings results on Friday. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78, Zacks reports. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%.

First Citizens BancShares Stock Up 0.4 %

First Citizens BancShares stock opened at $2,225.00 on Friday. First Citizens BancShares has a twelve month low of $1,383.00 and a twelve month high of $2,412.93. The stock has a 50 day moving average of $2,171.41 and a two-hundred day moving average of $2,033.79. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.03 and a beta of 0.86.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s payout ratio is 4.47%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price objective on the stock in a report on Tuesday, January 14th. Truist Financial began coverage on First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price objective on the stock. Barclays increased their price objective on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Wedbush dropped their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and a consensus target price of $2,290.75.

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.