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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1,920.82.

FCNCA has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 target price on the stock. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price for the company in a research note on Tuesday, July 2nd. Piper Sandler boosted their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th.

Institutional Investors Weigh In On First Citizens BancShares

Institutional investors have recently modified their holdings of the business. American Trust raised its holdings in shares of First Citizens BancShares by 91.1% during the second quarter. American Trust now owns 279 shares of the bank’s stock valued at $470,000 after acquiring an additional 133 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of First Citizens BancShares in the second quarter valued at about $6,934,000. Quarry LP purchased a new position in shares of First Citizens BancShares in the second quarter worth about $126,000. Creative Planning boosted its position in First Citizens BancShares by 4.5% during the second quarter. Creative Planning now owns 1,089 shares of the bank’s stock worth $1,834,000 after acquiring an additional 47 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in First Citizens BancShares by 10.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 711 shares of the bank’s stock valued at $1,197,000 after acquiring an additional 70 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,825.45 on Friday. First Citizens BancShares has a 12-month low of $1,274.91 and a 12-month high of $2,174.80. The business’s fifty day simple moving average is $1,925.43 and its 200-day simple moving average is $1,745.43. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.72. The company has a market cap of $26.52 billion, a PE ratio of 10.13 and a beta of 0.82.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, beating analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business posted $52.60 earnings per share. Analysts expect that First Citizens BancShares will post 200.92 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, August 30th. First Citizens BancShares’s dividend payout ratio (DPR) is 3.64%.

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.