First Citizens BancShares (NASDAQ:FCNCA) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research note published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $2,600.00 target price on the bank’s stock.

FCNCA has been the topic of several other research reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. 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 for the company in a report on Friday, October 25th. Wedbush lowered their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,157.64.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,152.41 on Monday. First Citizens BancShares has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. 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’s fifty day moving average is $2,095.02 and its 200 day moving average is $1,931.96. The company has a market cap of $30.11 billion, a price-to-earnings ratio of 12.33 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the company earned $55.92 earnings per share. Sell-side analysts forecast that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.95 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is 4.47%.

Hedge Funds Weigh In On First Citizens BancShares

A number of institutional investors have recently modified their holdings of FCNCA. Cetera Investment Advisers increased its holdings in shares of First Citizens BancShares by 301.3% during the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock valued at $2,034,000 after purchasing an additional 934 shares in the last quarter. Cetera Advisors LLC purchased a new position in First Citizens BancShares in the first quarter valued at $391,000. CWM LLC raised its position in shares of First Citizens BancShares by 33.5% in the second quarter. CWM LLC now owns 275 shares of the bank’s stock worth $463,000 after acquiring an additional 69 shares during the period. Diversified Trust Co boosted its stake in shares of First Citizens BancShares by 7.2% during the 2nd quarter. Diversified Trust Co now owns 1,162 shares of the bank’s stock worth $1,956,000 after acquiring an additional 78 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth about $35,000. 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.