First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53), RTT News reports. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the company earned $55.92 earnings per share.
First Citizens BancShares Stock Up 0.1 %
Shares of NASDAQ FCNCA traded up $1.89 during mid-day trading on Friday, reaching $1,881.83. 133,777 shares of the company were exchanged, compared to its average volume of 86,645. First Citizens BancShares has a 1 year low of $1,339.10 and a 1 year high of $2,174.80. The firm has a 50-day moving average of $1,951.59 and a 200 day moving average of $1,822.63. The stock has a market cap of $27.34 billion, a price-to-earnings ratio of 10.45 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.72.
First Citizens BancShares Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.95 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 target price on the stock. Wedbush decreased their target price 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 note on Friday. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Piper Sandler lifted their target price on shares of 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. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and an average target price of $2,025.90.
Check Out Our Latest Stock Analysis on First Citizens BancShares
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.
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