First Citizens BancShares (NASDAQ:FCNCA) Rating Lowered to "Sell" at StockNews.com

StockNews.com cut shares of First Citizens BancShares (NASDAQ:FCNCA - Free Report) from a hold rating to a sell rating in a report released on Friday.

Other equities research analysts have also recently issued reports about the stock. Citigroup cut shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price 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 note on Tuesday, November 26th. Barclays lifted 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 report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upgraded First Citizens BancShares from a "market perform" rating to an "outperform" rating and set a $2,500.00 price objective for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $2,290.75.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $8.51 during mid-day trading on Friday, reaching $2,225.00. 151,271 shares of the company's stock traded hands, compared to its average volume of 74,791. First Citizens BancShares has a 12 month low of $1,383.00 and a 12 month high of $2,412.93. The stock has a market capitalization of $31.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The business's 50-day moving average price is $2,171.41 and its 200-day moving average price is $2,033.79. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

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, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. Equities analysts predict that First Citizens BancShares will post 187.95 earnings per share 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 issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently added to or reduced their stakes in FCNCA. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter worth $33,000. Brooklyn Investment Group acquired a new stake in 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 third quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after acquiring an additional 35 shares during the period. Quarry LP acquired a new position in First Citizens BancShares in the 2nd quarter valued at approximately $126,000. Finally, Private Trust Co. NA lifted its position in shares of First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock worth $162,000 after acquiring an additional 84 shares during the period. Institutional investors own 78.01% of the company's stock.

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.