First Citizens BancShares (NASDAQ:FCNCA) Releases Quarterly Earnings Results, Beats Expectations By $5.78 EPS

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) posted its earnings results on Friday. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78, Zacks reports. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%.

First Citizens BancShares Stock Performance

FCNCA traded up $8.51 during trading on Friday, hitting $2,225.00. The stock had a trading volume of 151,271 shares, compared to its average volume of 74,791. The firm has a market cap of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 12 month low of $1,383.00 and a 12 month high of $2,412.93. The company has a 50 day simple moving average of $2,169.63 and a 200-day simple moving average of $2,028.74.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. First Citizens BancShares's payout ratio is 4.47%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 target price on the stock. UBS Group started coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Wedbush dropped their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $2,290.75.

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.