First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,290.75 Consensus Price Target from Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2,290.75.

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday. Barclays raised their price target on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Citigroup lowered First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th.

First Citizens BancShares Stock Performance

NASDAQ FCNCA traded up $3.49 during midday trading on Thursday, hitting $2,156.01. The company had a trading volume of 59,960 shares, compared to its average volume of 66,676. The firm has a fifty day simple moving average of $2,167.03 and a two-hundred day simple moving average of $2,012.73. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 0.96 and a beta of 0.86. 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 has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period last year, the business earned $55.92 earnings per share. Equities analysts forecast that First Citizens BancShares will post 186.98 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $1.95 per share. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, November 29th. First Citizens BancShares's payout ratio is presently 4.47%.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently bought and sold shares of FCNCA. Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the third quarter worth about $39,000. GAMMA Investing LLC increased its stake in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock worth $114,000 after purchasing an additional 35 shares in the last quarter. Quarry LP acquired a new stake in First Citizens BancShares during the 2nd quarter worth approximately $126,000. Private Trust Co. NA lifted its stake in First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank's stock valued at $162,000 after buying an additional 84 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of First Citizens BancShares in the third quarter valued at approximately $177,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

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.