First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,250.00 at Piper Sandler

First Citizens BancShares (NASDAQ:FCNCA) had its price target boosted by Piper Sandler from $2,100.00 to $2,250.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other analysts have also commented on FCNCA. Barclays boosted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2,316.75.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,182.30 on Monday. The company’s 50 day simple moving average is $2,171.17 and its 200-day simple moving average is $2,041.10. First Citizens BancShares has a 12-month low of $1,438.08 and a 12-month high of $2,412.93. The firm has a market cap of $30.53 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. As a group, equities analysts predict that First Citizens BancShares will post 187.95 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.47%.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently made changes to their positions in FCNCA. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the fourth quarter worth $33,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% in 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 during the period. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares during the third quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares in the last quarter. Finally, Quarry LP bought a new stake in First Citizens BancShares in the 2nd quarter valued at approximately $126,000. 78.01% of the stock is owned by institutional investors.

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.