Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Free Report) have been given a consensus recommendation of “Hold” by the fourteen research firms that are currently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2,261.00.
Several equities analysts have commented on FCNCA shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 9th. The Goldman Sachs Group boosted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Barclays upped their price objective on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Piper Sandler raised their target price on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, UBS Group began coverage on shares of First Citizens BancShares in a report on Monday, September 14th. They issued a “neutral” rating and a $2,250.00 target price on the stock.
Get Our Latest Report on First Citizens BancShares
First Citizens BancShares Stock Performance
First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities research analysts forecast that First Citizens BancShares will post 193.2 earnings per share for the current fiscal year.
First Citizens BancShares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.49%.
Insider Activity
In other news, major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $19.53, for a total value of $136,710.00. Following the transaction, the insider directly owned 15,000 shares in the company, valued at approximately $292,950. The trade was a 31.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane Morais acquired 50 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the transaction, the director directly owned 100 shares in the company, valued at $216,811. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 14.63% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in FCNCA. Venturi Wealth Management LLC boosted its holdings in shares of First Citizens BancShares by 2.6% during the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares during the period. Concurrent Investment Advisors LLC increased its holdings in First Citizens BancShares by 2.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 259 shares of the bank’s stock valued at $539,000 after purchasing an additional 7 shares during the period. Cooper Financial Group increased its holdings in First Citizens BancShares by 6.5% during the 2nd quarter. Cooper Financial Group now owns 131 shares of the bank’s stock valued at $273,000 after purchasing an additional 8 shares during the period. Root Financial Partners LLC raised its position in First Citizens BancShares by 61.1% during the 4th quarter. Root Financial Partners LLC now owns 29 shares of the bank’s stock valued at $62,000 after purchasing an additional 11 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new position in First Citizens BancShares during the 4th quarter valued at approximately $26,000. 78.01% of the stock is owned by institutional investors.
About First Citizens BancShares
First Citizens BancShares, Inc is a financial holding company headquartered in Raleigh, North Carolina. Through its principal subsidiary, First-Citizens Bank & Trust Company, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.
Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, treasury management, wealth management and investment services.
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