First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,093.40 Average Price Target from Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2,093.40.

A number of equities research analysts have recently issued reports on FCNCA shares. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Wedbush cut their price target on 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. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after purchasing an additional 33,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 7,613 shares during the period. Reinhart Partners LLC. raised its holdings in shares of First Citizens BancShares by 0.7% during the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank's stock worth $104,562,000 after acquiring an additional 416 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of First Citizens BancShares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock worth $86,812,000 after acquiring an additional 1,339 shares during the period. Finally, Zurich Insurance Group Ltd FI raised its holdings in shares of First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock worth $70,979,000 after acquiring an additional 29,194 shares during the period. Hedge funds and other institutional investors own 61.18% of the company's stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $2,325.96 on Wednesday. The firm has a market cap of $32.54 billion, a PE ratio of 13.33 and a beta of 0.80. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a fifty day simple moving average of $2,025.40 and a two-hundred day simple moving average of $1,897.60.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the company posted $55.92 EPS. On average, equities analysts anticipate that First Citizens BancShares will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio is 4.47%.

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.