First Citizens BancShares, Inc. (FCNCA) to Issue Quarterly Dividend of $1.95 on March 17th

First Citizens BancShares, Inc. (NASDAQ:FCNCA) announced a quarterly dividend on Tuesday, January 14th, RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 1.95 per share by the bank on Monday, March 17th. This represents a $7.80 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th.

First Citizens BancShares has raised its dividend payment by an average of 54.0% per year over the last three years. First Citizens BancShares has a dividend payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Analysts expect First Citizens BancShares to earn $193.69 per share next year, which means the company should continue to be able to cover its $7.80 annual dividend with an expected future payout ratio of 4.0%.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,992.71 on Wednesday. The business has a 50-day simple moving average of $2,141.51 and a 200-day simple moving average of $2,072.39. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a one year low of $1,505.73 and a one year high of $2,412.93. The company has a market cap of $27.88 billion, a PE ratio of 10.52, a P/E/G ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, equities research analysts forecast that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial increased their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Finally, Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,323.50.

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.