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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $2,288.08.

Several research firms have commented on FCNCA. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,854.12 on Tuesday. The company’s fifty day moving average price is $2,018.88 and its 200-day moving average price is $2,055.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.94 and a beta of 0.81. First Citizens BancShares has a one year low of $1,518.00 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results 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 13.22% and a net margin of 18.55%. On average, equities research analysts anticipate that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Insider Activity

In other news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of FCNCA. Financial Life Planners purchased a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $33,000. Hemington Wealth Management boosted its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth $36,000. Mather Group LLC. increased its holdings in shares of 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 acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.