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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2,227.0833.

A number of analysts have issued reports on FCNCA shares. Truist Financial raised their target price on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a report on Wednesday, February 4th. Keefe, Bruyette & Woods reduced their price target on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $2,200.00 price target (down from $2,450.00) on shares of First Citizens BancShares in a report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Friday, March 27th.

First Citizens BancShares Stock Up 2.5%

NASDAQ FCNCA opened at $2,030.16 on Friday. The business has a fifty day moving average price of $1,937.68 and a 200 day moving average price of $1,949.75. First Citizens BancShares has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $24.24 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.47 and a beta of 0.65.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. Research analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

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

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 134 shares of First Citizens BancShares stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $1,550.00 per share, for a total transaction of $207,700.00. Following the acquisition, the chief executive officer directly owned 2,749 shares in the company, valued at approximately $4,260,950. The trade was a 5.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 258 shares of company stock worth $404,236. 14.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FCNCA. Hilton Head Capital Partners LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in shares of First Citizens BancShares during the 3rd quarter worth $27,000. UMB Bank n.a. increased its position in shares of 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 last quarter. Steph & Co. acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $32,000. Finally, Root Financial Partners LLC acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.