First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Consensus Rating of “Moderate Buy” by Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $1,927.90.

FCNCA has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on First Citizens BancShares in a research note on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 target price for the company. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective for the company in a research report on Tuesday, July 2nd. Piper Sandler raised their price objective on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays boosted their target price on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday, July 26th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FCNCA. ORG Partners LLC acquired a new stake in shares of First Citizens BancShares in the first quarter valued at about $29,000. Mather Group LLC. acquired a new stake in First Citizens BancShares during the 1st quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in First Citizens BancShares during the 1st quarter valued at approximately $33,000. V Square Quantitative Management LLC bought a new position in First Citizens BancShares during the 2nd quarter worth approximately $35,000. Finally, Principal Securities Inc. acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $43,000. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 2.1 %

Shares of NASDAQ FCNCA opened at $1,939.57 on Friday. The stock has a market capitalization of $28.18 billion, a P/E ratio of 10.77 and a beta of 0.82. The stock’s fifty day moving average is $1,944.98 and its 200 day moving average is $1,757.03. First Citizens BancShares has a 52 week low of $1,274.91 and a 52 week high of $2,174.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, beating the consensus estimate of $44.91 by $5.96. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.30 billion. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. During the same period in the previous year, the company earned $52.60 EPS. Sell-side analysts forecast that First Citizens BancShares will post 200.92 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, August 30th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

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.