First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are covering the stock, MarketBeat reports. Four 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 brokers that have issued a report on the stock in the last year is $2,330.82.

Several research firms have recently issued reports on FCNCA. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research 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 for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their price target 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. 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 note on Tuesday, January 7th. Finally, Barclays decreased their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.19% of the company's stock.

Institutional Investors Weigh In On First Citizens BancShares

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $298,426,000. GAMMA Investing LLC lifted its position in First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock valued at $226,892,000 after buying an additional 122,300 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of First Citizens BancShares by 35.7% during the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after buying an additional 103,137 shares in the last quarter. Capital International Investors grew its position in shares of First Citizens BancShares by 78.2% in the 4th quarter. Capital International Investors now owns 172,723 shares of the bank's stock worth $364,967,000 after buying an additional 75,785 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in First Citizens BancShares during the 4th quarter valued at about $147,341,000. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 0.6 %

Shares of FCNCA stock opened at $1,779.26 on Friday. First Citizens BancShares has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $1,816.51 and a 200-day moving average of $2,024.68. The firm has a market cap of $24.16 billion, a P/E ratio of 9.39, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. Sell-side analysts anticipate that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.44%. First Citizens BancShares's dividend payout ratio (DPR) is presently 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.

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