First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,238.27 Consensus Target Price from Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2,238.2727.

A number of analysts have recently issued reports on FCNCA shares. Piper Sandler raised their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. UBS Group set a $2,325.00 price objective on First Citizens BancShares in a report on Wednesday, February 4th. JPMorgan Chase & Co. upped their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, TD Cowen dropped their price target on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a report on Monday, January 26th.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,016.58 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $25.09 billion, a P/E ratio of 12.17 and a beta of 0.70. First Citizens BancShares has a 12 month low of $1,473.62 and a 12 month high of $2,232.21. The stock has a 50 day moving average of $2,115.99 and a 200-day moving average of $1,952.95.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $2.24 billion. As a group, equities research analysts predict that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.07%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction dated Wednesday, November 26th. The stock was bought at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the transaction, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.19% of the company’s stock.

Institutional Trading of First Citizens BancShares

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of First Citizens BancShares by 117,518.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after purchasing an additional 205,658 shares during the period. Norges Bank acquired a new stake in First Citizens BancShares during the second quarter worth about $177,604,000. Orion Porfolio Solutions LLC increased its holdings in First Citizens BancShares by 2,057.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after buying an additional 45,304 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of First Citizens BancShares by 390.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after buying an additional 38,446 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of First Citizens BancShares by 13,512.7% during the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock worth $82,679,000 after acquiring an additional 38,241 shares during the period. 78.01% of the stock is currently owned by institutional investors.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.