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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $2,288.08.

A number of equities analysts have weighed in on FCNCA shares. The Goldman Sachs Group decreased their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft assumed 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. Piper Sandler raised shares of 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 report on Tuesday, March 11th. Finally, Truist Financial increased their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,854.12 on Tuesday. The company has a market capitalization of $25.17 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. 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 firm has a 50 day moving average of $2,018.88 and a 200 day moving average of $2,055.75.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. As a group, 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. Stockholders of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares’s payout ratio is currently 4.12%.

Insider Activity

In related news, CFO Craig L. Nix bought 17 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On First Citizens BancShares

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in First Citizens BancShares during the fourth quarter worth approximately $298,426,000. JPMorgan Chase & Co. boosted its holdings in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares during the period. Capital International Investors increased its position in shares of First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in First Citizens BancShares during the 4th quarter valued at $147,341,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in First Citizens BancShares by 83.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank’s stock worth $227,198,000 after buying an additional 48,994 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

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.