First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,215.91 Consensus PT from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has received an average recommendation of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $2,215.9091.

FCNCA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Keefe, Bruyette & Woods decreased their price target on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th.

First Citizens BancShares Stock Up 1.4%

FCNCA stock opened at $2,075.10 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. First Citizens BancShares has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The company has a 50-day moving average of $1,965.38 and a two-hundred day moving average of $1,998.38. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company earned $37.79 earnings per share. As a group, equities research analysts anticipate that First Citizens BancShares will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $1,726.82 per share, with a total value of $10,257,310.80. Following the completion of the transaction, the chief executive officer owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 6,187 shares of company stock worth $10,640,161 over the last three months. 14.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the third quarter valued at about $27,000. Harbor Investment Advisory LLC raised its position 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 last quarter. UMB Bank n.a. raised its position in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after buying an additional 8 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after buying an additional 14 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

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.