First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,250.00

First Citizens BancShares (NASDAQ:FCNCA) had its price target increased by Piper Sandler from $2,100.00 to $2,250.00 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other research firms have also issued reports on FCNCA. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Wedbush decreased 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 report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2,323.50.

First Citizens BancShares Trading Up 1.0 %

Shares of NASDAQ FCNCA opened at $2,199.94 on Monday. First Citizens BancShares has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93. The firm has a market capitalization of $30.77 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.03 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50 day simple moving average is $2,169.22 and its 200 day simple moving average is $2,045.22.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. On average, analysts predict that First Citizens BancShares will post 187.95 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares during the last quarter. JPMorgan Chase & Co. grew its stake in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after purchasing an additional 1,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after purchasing an additional 30,828 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

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.