The Goldman Sachs Group Forecasts Strong Price Appreciation for First Citizens BancShares (NASDAQ:FCNCA) Stock

First Citizens BancShares (NASDAQ:FCNCA) had its price objective boosted by The Goldman Sachs Group from $2,025.00 to $2,625.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

FCNCA has been the topic of several other research reports. Barclays upped their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wedbush decreased their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,093.40.

First Citizens BancShares Trading Down 0.6 %

Shares of First Citizens BancShares stock opened at $2,325.96 on Tuesday. The firm has a market cap of $32.54 billion, a PE ratio of 13.33 and a beta of 0.80. First Citizens BancShares has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. 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 stock has a fifty day moving average price of $2,025.40 and a 200-day moving average price of $1,897.60.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter last year, the business posted $55.92 EPS. Equities research analysts anticipate that First Citizens BancShares will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.95 dividend. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Institutional Trading of First Citizens BancShares

Institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $33,000. V Square Quantitative Management LLC purchased a new position in First Citizens BancShares in the 2nd quarter worth approximately $35,000. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares in the 3rd quarter worth $39,000. Gradient Investments LLC purchased a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $52,000. Finally, Blue Trust Inc. grew its position in First Citizens BancShares by 120.0% in the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after acquiring an additional 36 shares in the last quarter. 61.18% of the stock is currently owned by hedge funds and other 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.