First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $2,243.64.

FCNCA has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered First Citizens BancShares from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Wedbush reduced their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,130.51 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $29.80 billion, a price-to-earnings ratio of 12.21 and a beta of 0.83. First Citizens BancShares has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The firm has a 50 day moving average price of $2,125.14 and a 200 day moving average price of $1,953.22.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data 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). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the firm earned $55.92 earnings per share. Sell-side analysts predict that First Citizens BancShares will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp grew its holdings in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after acquiring an additional 5 shares in the last quarter. Wedbush Securities Inc. grew its stake in First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock worth $2,019,000 after purchasing an additional 6 shares in the last quarter. Metis Global Partners LLC increased its holdings in First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after buying an additional 6 shares during the last quarter. HB Wealth Management LLC raised its stake in First Citizens BancShares by 3.9% during the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock valued at $315,000 after buying an additional 7 shares in the last quarter. Finally, Tandem Capital Management Corp ADV lifted its holdings in First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after buying an additional 8 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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.