First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,300.00 at Keefe, Bruyette & Woods

First Citizens BancShares (NASDAQ:FCNCA) had its price objective increased by Keefe, Bruyette & Woods from $2,100.00 to $2,300.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other equities research analysts also recently weighed in on the stock. DA Davidson restated a neutral rating and issued a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Barclays boosted their target price on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. StockNews.com upgraded First Citizens BancShares from a sell rating to a hold rating in a research note on Monday, April 29th. Jefferies Financial Group started coverage on First Citizens BancShares in a report on Tuesday, July 9th. They issued a buy rating and a $2,005.00 target price for the company. Finally, Raymond James raised First Citizens BancShares from a market perform rating to an outperform rating and set a $1,900.00 price target on the stock in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $1,893.55.

First Citizens BancShares Stock Performance

FCNCA opened at $2,110.45 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10. First Citizens BancShares has a 52-week low of $1,274.91 and a 52-week high of $2,112.64. The firm has a market cap of $30.66 billion, a P/E ratio of 11.72 and a beta of 0.83. The business’s fifty day moving average is $1,736.52 and its 200-day moving average is $1,625.65.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, beating the consensus estimate of $44.27 by $8.65. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a net margin of 18.19% and a return on equity of 15.09%. Sell-side analysts expect that First Citizens BancShares will post 191.52 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.31%. First Citizens BancShares’s payout ratio is presently 3.64%.

Insider Buying and Selling

In other news, Director Ellen R. Alemany sold 516 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total value of $903,000.00. Following the completion of the sale, the director now directly owns 819 shares in the company, valued at approximately $1,433,250. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the transaction, the director now owns 1,335 shares in the company, valued at $2,345,955.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ellen R. Alemany sold 516 shares of First Citizens BancShares stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the transaction, the director now owns 819 shares of the company’s stock, valued at $1,433,250. The disclosure for this sale can be found here. Insiders have sold a total of 2,000 shares of company stock valued at $3,507,328 over the last ninety days. 13.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

A number of institutional investors have recently added to or reduced their stakes in FCNCA. ORG Partners LLC purchased a new stake in First Citizens BancShares during the first quarter worth about $29,000. Mather Group LLC. bought a new position in shares of First Citizens BancShares during the 1st quarter valued at approximately $31,000. Blue Trust Inc. increased its stake in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $30,000. Finally, LRI Investments LLC bought a new stake in shares of First Citizens BancShares in the 1st quarter worth approximately $33,000. 61.18% of the stock is owned by 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.