First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,288.08 Average Price Target from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $2,288.08.

FCNCA has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. upped their price target on shares of 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. Finally, StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st.

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Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew 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 buying an additional 6 shares during the last quarter. Financial Life Planners acquired a new stake in shares of First Citizens BancShares in the fourth quarter worth $33,000. Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in First Citizens BancShares during the fourth quarter worth $36,000. Finally, Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 8.5 %

NASDAQ FCNCA traded down $138.69 on Tuesday, hitting $1,493.37. 86,318 shares of the stock traded hands, compared to its average volume of 86,675. 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 stock has a 50-day moving average of $1,991.87 and a 200 day moving average of $2,051.38. First Citizens BancShares has a twelve month low of $1,470.15 and a twelve month high of $2,412.93. The company has a market capitalization of $20.28 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts expect that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.52%. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.12%.

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.