First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Rating of “Moderate Buy” by Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $1,768.63.

FCNCA has been the topic of a number of recent research reports. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Barclays assumed coverage on First Citizens BancShares in a research note on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price for the company. Finally, UBS Group boosted their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,622.75 on Tuesday. The stock’s 50-day moving average is $1,566.98 and its 200-day moving average is $1,472.16. First Citizens BancShares has a 1-year low of $945.32 and a 1-year high of $1,651.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market cap of $23.56 billion, a P/E ratio of 2.07 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. Equities research analysts anticipate that First Citizens BancShares will post 177.19 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 622 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the transaction, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at $128,355,835. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the transaction, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the transaction, the insider now directly owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,388 shares of company stock valued at $1,825,220. Corporate insiders own 12.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FCNCA. Raymond James Financial Services Advisors Inc. raised its holdings in shares of First Citizens BancShares by 145.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after acquiring an additional 833 shares in the last quarter. Nordea Investment Management AB grew its stake in First Citizens BancShares by 3,091.6% in the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after purchasing an additional 23,156 shares during the period. Reinhart Partners LLC. raised its holdings in First Citizens BancShares by 11.7% in the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after purchasing an additional 5,952 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of First Citizens BancShares by 49.1% during the 3rd quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock valued at $65,261,000 after buying an additional 15,579 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in First Citizens BancShares by 90.9% during the third quarter. Hsbc Holdings PLC now owns 3,132 shares of the bank’s stock worth $4,326,000 after acquiring an additional 1,491 shares in the last quarter. 61.18% of the stock is 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.