First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2,288.08.

A number of equities analysts have recently issued reports on the stock. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a report on Tuesday, March 11th. Truist Financial upped their price objective 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 note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th.

First Citizens BancShares Price Performance

FCNCA opened at $1,571.21 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The business has a fifty day moving average of $1,978.80 and a 200 day moving average of $2,050.23. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The stock has a market cap of $21.33 billion, a P/E ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 13.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FCNCA. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management grew its stake in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares in the 4th quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in First Citizens BancShares by 54.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after acquiring an additional 6 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares in the last quarter. 78.01% of the stock is 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.