DA Davidson Issues Pessimistic Outlook for FCNCA Earnings

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) - Stock analysts at DA Davidson reduced their FY2025 earnings per share (EPS) estimates for shares of First Citizens BancShares in a report issued on Thursday, November 21st. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $160.50 for the year, down from their prior forecast of $180.85. The consensus estimate for First Citizens BancShares' current full-year earnings is $187.88 per share.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the business posted $55.92 earnings per share.

A number of other research firms also recently issued reports on FCNCA. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Wedbush dropped their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Finally, Barclays lifted their target price on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an "equal weight" rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,025.90.

First Citizens BancShares Stock Down 0.9 %

FCNCA traded down $20.29 during trading on Monday, hitting $2,332.79. 44,799 shares of the company's stock traded hands, compared to its average volume of 87,371. The company's 50 day simple moving average is $2,016.00 and its two-hundred day simple moving average is $1,893.32. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 13.48 and a beta of 0.80.

Institutional Investors Weigh In On First Citizens BancShares

Several large investors have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd boosted its holdings in shares of First Citizens BancShares by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 200 shares of the bank's stock valued at $327,000 after purchasing an additional 100 shares during the period. Gabelli Funds LLC raised its stake in First Citizens BancShares by 6.4% in the first quarter. Gabelli Funds LLC now owns 1,673 shares of the bank's stock worth $2,735,000 after buying an additional 100 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of First Citizens BancShares by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank's stock worth $14,339,000 after purchasing an additional 365 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of First Citizens BancShares by 1.2% during the first quarter. Janus Henderson Group PLC now owns 903 shares of the bank's stock worth $1,475,000 after purchasing an additional 11 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of First Citizens BancShares by 11.7% during the first quarter. Tidal Investments LLC now owns 592 shares of the bank's stock worth $968,000 after purchasing an additional 62 shares in the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, November 29th. First Citizens BancShares's payout ratio is presently 3.76%.

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.