First Citizens BancShares (NASDAQ:FCNCA) Given New $2,384.00 Price Target at Truist Financial

First Citizens BancShares (NASDAQ:FCNCA) had its target price hoisted by Truist Financial from $2,303.00 to $2,384.00 in a research note published on Wednesday,Benzinga reports. They currently have a hold rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler boosted their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Finally, Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2,323.50.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $2,199.94 on Wednesday. The stock has a market capitalization of $30.77 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.03 and a beta of 0.86. First Citizens BancShares has a 1-year low of $1,438.08 and a 1-year high of $2,412.93. 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 business’s fifty day moving average price is $2,169.22 and its 200-day moving average price is $2,045.22.

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

First Citizens BancShares Dividend Announcement

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

Institutional Trading of First Citizens BancShares

Several hedge funds have recently made changes to their positions in FCNCA. Financial Life Planners purchased a new position in First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management boosted its stake in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Mather Group LLC. grew its holdings in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Brooklyn Investment Group bought a new position in First Citizens BancShares during the 3rd quarter valued at about $39,000. Finally, GAMMA Investing LLC lifted its stake in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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.