First Citizens BancShares (NASDAQ:FCNCA) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $2,700.00 price target on the bank’s stock.

Other research analysts also recently issued reports about the stock. 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. Keefe, Bruyette & Woods cut First Citizens BancShares from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. Citigroup raised First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Finally, Wedbush decreased their price target on 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. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,243.64.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,107.94 on Tuesday. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 12.08 and a beta of 0.83. First Citizens BancShares has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $2,117.01 and a 200 day moving average price of $1,943.90.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $55.92 EPS. Research analysts predict that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Institutional Investors Weigh In On First Citizens BancShares

Institutional investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in First Citizens BancShares in the 3rd quarter valued at about $39,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares in the last quarter. Blue Trust Inc. raised its position in shares of First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares during the last quarter. National Bank of Canada FI lifted its stake in First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after buying an additional 11 shares in the last quarter. Finally, Quarry LP acquired a new stake in First Citizens BancShares during the 2nd quarter valued at $126,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.