First Citizens BancShares, Inc. (NASDAQ:FCNCA) Announces $1.95 Quarterly Dividend

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Tuesday, January 14th, RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 1.95 per share by the bank on Monday, March 17th. This represents a $7.80 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, February 28th.

First Citizens BancShares has raised its dividend by an average of 54.0% per year over the last three years. First Citizens BancShares has a dividend payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Citizens BancShares to earn $193.69 per share next year, which means the company should continue to be able to cover its $7.80 annual dividend with an expected future payout ratio of 4.0%.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,992.71 on Wednesday. The company has a market cap of $27.88 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. First Citizens BancShares has a one year low of $1,505.73 and a one year high of $2,412.93. The business has a fifty day moving average of $2,141.51 and a two-hundred day moving average of $2,072.39. 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 (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, analysts predict that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. 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 target price on the stock. Barclays lifted their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. The Goldman Sachs Group increased their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

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.