DA Davidson Has Negative Forecast for FCNCA FY2025 Earnings

First Citizens BancShares, Inc. (NASDAQ:FCNCA) – Equities researchers at DA Davidson reduced their FY2025 earnings per share estimates for shares of First Citizens BancShares in a note issued to investors on Thursday, November 21st. DA Davidson analyst M. Navas now anticipates that the bank will earn $160.50 per share for the year, down from their prior forecast of $180.85. The consensus estimate for First Citizens BancShares’ current full-year earnings is $187.88 per share.

FCNCA has been the topic of a number of other research reports. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and a consensus target price of $2,093.40.

First Citizens BancShares Stock Performance

FCNCA opened at $2,325.96 on Monday. The stock has a market cap of $32.54 billion, a P/E ratio of 13.33 and a beta of 0.80. 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 stock’s 50 day simple moving average is $2,025.40 and its 200 day simple moving average is $1,897.60. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released 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). The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter in the prior year, the company earned $55.92 EPS.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FCNCA. Raymond James & Associates increased its holdings in shares of First Citizens BancShares by 5.1% during the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after buying an additional 811 shares during the last quarter. Balentine LLC acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth $3,564,000. Cetera Investment Advisers increased its holdings in shares of First Citizens BancShares by 301.3% during the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock worth $2,034,000 after buying an additional 934 shares during the last quarter. Oliver Luxxe Assets LLC increased its holdings in shares of First Citizens BancShares by 22.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock worth $5,368,000 after buying an additional 537 shares during the last quarter. Finally, Hiddenite Capital Partners LP increased its holdings in shares of First Citizens BancShares by 14.1% during the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

About First Citizens BancShares

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.