First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,290.75 Consensus Target Price from Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2,290.75.

Several equities research analysts have recently weighed in on FCNCA shares. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reduced their price target on shares of 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, UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock.

First Citizens BancShares Trading Up 1.5 %

Shares of FCNCA stock opened at $2,188.94 on Thursday. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.86. The company’s fifty day simple moving average is $2,167.50 and its two-hundred day simple moving average is $2,018.15. First Citizens BancShares has a 1 year low of $1,371.77 and a 1 year high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the previous year, the firm posted $55.92 earnings per share. As a group, analysts anticipate that First Citizens BancShares will post 186.98 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FCNCA. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares during the third quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 35 shares during the period. Quarry LP bought a new position in First Citizens BancShares during the 2nd quarter worth approximately $126,000. Private Trust Co. NA increased its stake in First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares during the period. Finally, UMB Bank n.a. bought a new stake in First Citizens BancShares in the third quarter valued at approximately $177,000. 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.