First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,093.40 Consensus PT from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2,093.40.

Several brokerages have recently issued reports on FCNCA. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush decreased 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. JPMorgan Chase & Co. dropped 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 report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

First Citizens BancShares Trading Down 0.6 %

FCNCA opened at $2,295.00 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a one year low of $1,363.97 and a one year high of $2,388.78. The company has a market cap of $32.11 billion, a P/E ratio of 13.15 and a beta of 0.80. The business’s 50-day simple moving average is $2,055.78 and its 200-day simple moving average is $1,913.78.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period last year, the company earned $55.92 earnings per share. As a group, equities research analysts expect that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of First Citizens BancShares in the first quarter valued at about $33,000. V Square Quantitative Management LLC acquired a new stake in First Citizens BancShares in the second quarter valued at about $35,000. Brooklyn Investment Group acquired a new stake in First Citizens BancShares in the third quarter valued at about $39,000. Gradient Investments LLC purchased a new stake in First Citizens BancShares in the 2nd quarter valued at approximately $52,000. Finally, Blue Trust Inc. increased its position in First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 61.18% 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.