First Citizens BancShares (FCNCA) Expected to Announce Earnings on Friday

First Citizens BancShares (NASDAQ:FCNCA) is anticipated to post its quarterly earnings results before the market opens on Friday, January 24th. Analysts expect First Citizens BancShares to post earnings of $39.32 per share and revenue of $2,258,180.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results 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). The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 business posted $55.92 earnings per share. On average, analysts expect First Citizens BancShares to post $187 EPS for the current fiscal year and $161 EPS for the next fiscal year.

First Citizens BancShares Trading Up 0.2 %

Shares of First Citizens BancShares stock opened at $2,156.01 on Friday. The business has a fifty day simple moving average of $2,167.03 and a 200-day simple moving average of $2,012.73. First Citizens BancShares has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78. The firm has a market cap of $30.16 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FCNCA shares. UBS Group assumed coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Truist Financial began coverage on First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,290.75.

About First Citizens BancShares

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.