StockNews.com Upgrades First Citizens BancShares (NASDAQ:FCNCA) to “Hold”

StockNews.com upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other analysts have also commented on FCNCA. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Piper Sandler increased their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Barclays raised their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. The Goldman Sachs Group increased their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,142.01 on Friday. The stock’s 50 day moving average is $2,160.31 and its 200-day moving average is $2,054.63. First Citizens BancShares has a twelve month low of $1,438.08 and a twelve month high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $29.97 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts forecast that First Citizens BancShares will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Hedge Funds Weigh In On First Citizens BancShares

Several large investors have recently modified their holdings of FCNCA. Financial Life Planners bought a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management boosted its holdings in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the period. Mather Group LLC. grew its position in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares in the last quarter. Asset Planning Inc bought a new position in shares of First Citizens BancShares in the fourth quarter worth $38,000. Finally, Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares in the third quarter worth $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.