Keefe, Bruyette & Woods Issues Positive Forecast for First Citizens BancShares (NASDAQ:FCNCA) Stock Price

First Citizens BancShares (NASDAQ:FCNCAFree Report) had its price objective upped by Keefe, Bruyette & Woods from $2,500.00 to $2,600.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other brokerages have also weighed in on FCNCA. Truist Financial initiated coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price for the company. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. Barclays upped their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus price target of $2,316.75.

Check Out Our Latest Stock Report on First Citizens BancShares

First Citizens BancShares Stock Down 1.9 %

FCNCA stock opened at $2,182.30 on Monday. 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 business has a 50 day moving average of $2,171.17 and a 200 day moving average of $2,041.10. First Citizens BancShares has a twelve month low of $1,438.08 and a twelve 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.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. On average, research analysts forecast that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors have recently bought and sold shares of FCNCA. Financial Life Planners bought a new stake in shares of First Citizens BancShares in the 4th quarter worth about $33,000. Mather Group LLC. raised its holdings in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC boosted its holdings in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the period. Finally, Quarry LP bought a new position in First Citizens BancShares in the 2nd quarter valued at $126,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

(Get Free Report)

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.

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Analyst Recommendations for First Citizens BancShares (NASDAQ:FCNCA)

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