First Citizens BancShares (NASDAQ:FCNCA) Announces Earnings Results

First Citizens BancShares (NASDAQ:FCNCA) posted its quarterly earnings data on Friday. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78, Zacks reports. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $2,225.00 on Friday. The firm has a market cap of $31.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The stock’s 50-day moving average is $2,171.41 and its two-hundred day moving average is $2,035.98. First Citizens BancShares has a fifty-two week low of $1,383.00 and a fifty-two week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group initiated coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial began coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Hold” and an average target price of $2,290.75.

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.