Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) PT at $2,243.64

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2,243.64.

A number of analysts recently commented on the stock. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. The Goldman Sachs Group lifted their price target on 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. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th.

Institutional Inflows and Outflows

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

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $2,132.44 on Friday. The stock’s 50-day moving average is $2,133.41 and its 200 day moving average is $1,967.26. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $29.83 billion, a P/E ratio of 12.22 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share 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 firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $55.92 earnings per share. Research analysts predict that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

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.