First Citizens BancShares, Inc. (FCNCA) to Distribute Quarterly Dividend of $1.95 on March 17th

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Friday, January 24th,RTT News reports. Shareholders of record on Friday, February 28th will be given 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 0.35%.

First Citizens BancShares has increased its dividend payment by an average of 54.0% annually over the last three years. First Citizens BancShares has a payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Citizens BancShares to earn $161.34 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 4.8%.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,225.00 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. First Citizens BancShares has a 12 month low of $1,383.00 and a 12 month high of $2,412.93. The company’s fifty day simple moving average is $2,171.41 and its 200-day simple moving average is $2,035.98. The firm has a market cap of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86.

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%. Equities research analysts expect that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

Analysts Set New Price Targets

FCNCA has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. Truist Financial started coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price for the company. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Barclays upped their price objective on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2,290.75.

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.