First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2,243.64.

FCNCA has been the topic of a number of research analyst reports. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. UBS Group began coverage on shares of 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. Wedbush reduced their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on shares of 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.

First Citizens BancShares Trading Up 2.9 %

NASDAQ FCNCA opened at $2,130.51 on Friday. First Citizens BancShares has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The firm has a 50 day moving average of $2,125.14 and a two-hundred day moving average of $1,953.22. 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 stock has a market capitalization of $29.80 billion, a PE ratio of 12.21 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company posted $55.92 earnings per share. As a group, research analysts expect that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were 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 0.37%. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Hedge Funds Weigh In On First Citizens BancShares

A number of institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank lifted its stake in shares of First Citizens BancShares by 3,577.5% during the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after buying an additional 34,058 shares during the period. FMR LLC raised its holdings in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after purchasing an additional 29,194 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of First Citizens BancShares by 183,992.3% during the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after purchasing an additional 23,919 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of First Citizens BancShares by 6,773.9% in the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

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.