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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2,238.2727.

Several research firms have recently weighed in on FCNCA. Truist Financial lifted their price objective on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Barclays dropped their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of 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. Finally, Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th.

Institutional Trading of First Citizens BancShares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCNCA. Hilton Head Capital Partners LLC bought a new position in First Citizens BancShares in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of First Citizens BancShares in the 3rd quarter worth $27,000. Harbor Investment Advisory LLC lifted its holdings in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares in the last quarter. UMB Bank n.a. grew its position in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after purchasing an additional 8 shares during the period. Finally, MAI Capital Management increased its stake in First Citizens BancShares by 500.0% during the 2nd quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 0.8%

Shares of NASDAQ FCNCA opened at $1,981.02 on Friday. The company’s 50 day moving average price is $2,111.59 and its 200-day moving average price is $1,955.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,232.21. The company has a market capitalization of $24.64 billion, a P/E ratio of 11.95 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. Equities analysts forecast that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $2.10 per share. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

First Citizens BancShares Company Profile

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.