Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) PT at $2,243.64

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2,243.64.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wedbush decreased their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Finally, UBS Group began 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCNCA. Brooklyn Investment Group bought a new stake in First Citizens BancShares during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its position in shares of First Citizens BancShares by 129.6% during the third 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. National Bank of Canada FI grew its stake in First Citizens BancShares by 17.7% in the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after purchasing an additional 11 shares during the period. Quarry LP bought a new position in First Citizens BancShares in the second quarter worth $126,000. Finally, Private Trust Co. NA lifted its position in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after buying an additional 84 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.2 %

Shares of FCNCA stock opened at $2,152.98 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $30.12 billion, a P/E ratio of 12.33 and a beta of 0.83. The company has a 50 day moving average of $2,129.52 and a 200-day moving average of $1,961.40. First Citizens BancShares has a 12-month low of $1,363.97 and a 12-month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $55.92 EPS. Sell-side analysts anticipate that First Citizens BancShares will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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

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.