Piper Sandler Increases First Citizens BancShares (NASDAQ:FCNCA) Price Target to $2,150.00

First Citizens BancShares (NASDAQ:FCNCA) had its price objective boosted by Piper Sandler from $1,950.00 to $2,150.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Other research analysts have also issued research reports about the company. StockNews.com upgraded First Citizens BancShares from a sell rating to a hold rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an outperform rating in a research report on Friday. Barclays boosted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an equal weight rating in a research report on Friday, April 26th. Raymond James upgraded First Citizens BancShares from a market perform rating to an outperform rating and set a $1,900.00 price objective for the company in a report on Tuesday, July 2nd. Finally, 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 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of Moderate Buy and a consensus price target of $1,920.82.

First Citizens BancShares Trading Down 0.7 %

NASDAQ:FCNCA opened at $2,095.84 on Friday. First Citizens BancShares has a 12-month low of $1,274.91 and a 12-month high of $2,146.77. The firm has a market capitalization of $30.45 billion, a P/E ratio of 11.64 and a beta of 0.83. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $1,743.17 and a 200 day simple moving average of $1,633.80.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a return on equity of 15.09% and a net margin of 18.19%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $52.60 EPS. Equities research analysts predict that First Citizens BancShares will post 192.23 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 484 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the transaction, the director now directly owns 335 shares of the company’s stock, valued at $586,290.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ellen R. Alemany sold 484 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the completion of the sale, the director now owns 335 shares in the company, valued at approximately $586,290.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ellen R. Alemany sold 516 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total value of $903,000.00. Following the sale, the director now owns 819 shares of the company’s stock, valued at approximately $1,433,250. The disclosure for this sale can be found here. 13.40% of the stock is owned by insiders.

Hedge Funds Weigh In On First Citizens BancShares

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after buying an additional 10 shares in the last quarter. ORG Partners LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter worth approximately $29,000. GAMMA Investing LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $30,000. Mather Group LLC. acquired a new position in shares of First Citizens BancShares in the 1st quarter worth approximately $31,000. Finally, LRI Investments LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

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.