Analysts Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Target Price at $1,768.63

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $1,768.63.

A number of research analysts have commented on FCNCA shares. DA Davidson restated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Barclays assumed coverage on shares of First Citizens BancShares in a report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Finally, UBS Group raised their price objective 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.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 622 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Citizens BancShares news, insider Hope Holding Bryant purchased 300 shares of the stock in a transaction on Wednesday, February 21st. The shares were purchased at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the purchase, the insider now owns 1,978 shares of the company’s stock, valued at $2,601,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the purchase, the chief executive officer now directly owns 97,609 shares in the company, valued at approximately $128,355,835. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock valued at $1,825,220. 13.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCNCA. Raymond James Financial Services Advisors Inc. increased its stake in shares of First Citizens BancShares by 145.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock worth $1,995,000 after purchasing an additional 833 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of First Citizens BancShares by 3,091.6% during the 4th 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 last quarter. Reinhart Partners LLC. increased its stake in shares of First Citizens BancShares by 11.7% during the 4th 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 during the last quarter. Legal & General Group Plc increased its stake 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 worth $65,261,000 after purchasing an additional 15,579 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in First Citizens BancShares by 90.9% in the 3rd quarter. Hsbc Holdings PLC now owns 3,132 shares of the bank’s stock valued at $4,326,000 after buying an additional 1,491 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 0.1 %

Shares of FCNCA opened at $1,551.91 on Tuesday. The company has a 50-day simple moving average of $1,562.91 and a 200-day simple moving average of $1,466.44. The firm has a market capitalization of $22.53 billion, a P/E ratio of 1.98 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. First Citizens BancShares has a 52 week low of $945.32 and a 52 week high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, equities research analysts expect that First Citizens BancShares will post 178.72 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

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.