First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,243.64 Consensus Price Target from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $2,243.64.

FCNCA has been the topic of a number of research analyst reports. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. Wedbush reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. UBS Group began coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in First Citizens BancShares during the third quarter worth $39,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of First Citizens BancShares by 17.7% during the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after buying an additional 11 shares in the last quarter. Quarry LP bought a new stake in shares of First Citizens BancShares during the 2nd quarter worth $126,000. Finally, Private Trust Co. NA boosted its stake in First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after buying an additional 84 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.0 %

First Citizens BancShares stock opened at $2,153.14 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50-day moving average is $2,131.70 and its 200-day moving average is $1,962.74. The firm has a market capitalization of $30.12 billion, a PE ratio of 12.34 and a beta of 0.83. First Citizens BancShares has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78.

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

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

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.