Analysts Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) PT at $2,202.08

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been given an average recommendation of “Hold” by the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $2,202.0833.

A number of research firms recently commented on FCNCA. Piper Sandler set a $2,050.00 price target on First Citizens BancShares in a research report on Friday, April 24th. Barclays decreased their price objective on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. TD Cowen cut their target price on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Truist Financial raised their target price on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Finally, Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer owned 100,654 shares in the company, valued at $193,123,823.26. The trade was a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 6,198 shares of company stock valued at $10,661,547. Insiders own 14.63% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

A number of large investors have recently bought and sold shares of FCNCA. Hilton Head Capital Partners LLC purchased a new position in First Citizens BancShares in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $27,000. UMB Bank n.a. increased its stake in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Root Financial Partners LLC purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $32,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after buying an additional 9 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,918.69 on Wednesday. The company has a market capitalization of $22.91 billion, a PE ratio of 11.03, a P/E/G ratio of 1.48 and a beta of 0.63. The company has a 50 day simple moving average of $1,924.44 and a two-hundred day simple moving average of $1,977.59. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.03 and a current ratio of 1.00. First Citizens BancShares has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business earned $37.79 EPS. Research analysts anticipate that First Citizens BancShares will post 176.04 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $2.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.83%.

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.