Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Target Price at $2,323.50

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2,323.50.

FCNCA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Wedbush lowered 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 research report on Friday, October 25th. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group lifted 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. Finally, Barclays upped their target price 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 note on Monday, January 27th.

Institutional Trading of First Citizens BancShares

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after buying an additional 35 shares during the period. UMB Bank n.a. acquired a new position in shares of First Citizens BancShares during the third quarter worth about $177,000. Oliver Luxxe Assets LLC increased its stake in shares of First Citizens BancShares by 22.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank's stock worth $5,368,000 after acquiring an additional 537 shares during the period. Affinity Wealth Management LLC lifted its position in First Citizens BancShares by 116.4% in the third quarter. Affinity Wealth Management LLC now owns 448 shares of the bank's stock valued at $825,000 after purchasing an additional 241 shares during the period. Finally, Creative Planning boosted its holdings in First Citizens BancShares by 4.5% in the 3rd quarter. Creative Planning now owns 1,138 shares of the bank's stock valued at $2,095,000 after purchasing an additional 49 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 0.9 %

Shares of FCNCA traded down $18.29 during trading hours on Monday, hitting $2,107.02. The company had a trading volume of 72,735 shares, compared to its average volume of 69,487. The firm has a market cap of $29.48 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares has a 52-week low of $1,467.51 and a 52-week high of $2,412.93. The stock's 50 day moving average price is $2,146.68 and its 200 day moving average price is $2,065.53. 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 (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, research analysts predict that First Citizens BancShares will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. First Citizens BancShares's payout ratio is currently 4.12%.

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.