First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,568.00 at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its target price increased by Barclays from $2,456.00 to $2,568.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

FCNCA has been the topic of a number of other research reports. Truist Financial began coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price target on the stock. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods raised their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. Finally, UBS Group began coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2,316.75.

First Citizens BancShares Stock Down 1.9 %

NASDAQ:FCNCA opened at $2,182.30 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a one year low of $1,438.08 and a one year high of $2,412.93. The firm’s 50 day simple moving average is $2,171.17 and its 200 day simple moving average is $2,041.10. The company has a market cap of $30.53 billion, a PE ratio of 12.50, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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 return on equity of 13.63% and a net margin of 17.36%. On average, research analysts anticipate that First Citizens BancShares will post 187.95 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds have recently made changes to their positions in the business. M&T Bank Corp increased its position in First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after buying an additional 5 shares during the last quarter. Mather Group LLC. lifted its holdings in First Citizens BancShares by 38.5% during the fourth 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 last quarter. Metis Global Partners LLC increased its stake in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares in the last quarter. Brooklyn Investment Group raised its position in shares of First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after purchasing an additional 7 shares during the period. Finally, Tandem Capital Management Corp ADV boosted its holdings in First Citizens BancShares by 1.8% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after buying an additional 8 shares during the period. 78.01% of the stock is currently 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.