First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,568.00

First Citizens BancShares (NASDAQ:FCNCA) had its price objective lifted by Barclays from $2,456.00 to $2,568.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities research analysts also recently commented on FCNCA. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Wedbush lowered their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Up 1.0 %

Shares of NASDAQ:FCNCA opened at $2,199.94 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a 52-week low of $1,438.08 and a 52-week high of $2,412.93. The business’s 50 day simple moving average is $2,169.22 and its two-hundred day simple moving average is $2,045.22. The firm has a market cap of $30.77 billion, a P/E ratio of 12.60, a PEG ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. As a group, research analysts forecast that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCNCA. Financial Life Planners purchased a new stake in First Citizens BancShares during the 4th quarter worth about $33,000. Hemington Wealth Management boosted its position in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the 3rd quarter worth approximately $39,000. Finally, GAMMA Investing LLC grew its position in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Company Profile

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.