Analysts Expect First Citizens BancShares, Inc. (NASDAQ:FCNCA) to Post $13.48 EPS

Wall Street brokerages forecast that First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) will post earnings per share (EPS) of $13.48 for the current quarter, Zacks reports. Two analysts have provided estimates for First Citizens BancShares’ earnings, with estimates ranging from $10.56 to $16.39. First Citizens BancShares reported earnings per share of $14.53 during the same quarter last year, which would indicate a negative year over year growth rate of 7.2%. The firm is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that First Citizens BancShares will report full year earnings of $66.18 per share for the current financial year, with EPS estimates ranging from $59.86 to $72.50. For the next financial year, analysts forecast that the company will report earnings of $84.14 per share, with EPS estimates ranging from $82.42 to $86.50. Zacks’ EPS averages are an average based on a survey of research analysts that cover First Citizens BancShares.

First Citizens BancShares (NASDAQ:FCNCAGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The bank reported $12.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($3.54) by $15.63. The business had revenue of $471.66 million during the quarter, compared to analyst estimates of $446.60 million. First Citizens BancShares had a net margin of 27.95% and a return on equity of 13.07%. During the same quarter in the previous year, the business posted $13.59 EPS.

Several analysts have issued reports on the company. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Zacks Investment Research raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Finally, Piper Sandler dropped their price objective on First Citizens BancShares from $1,000.00 to $900.00 in a research note on Friday, March 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $964.00.

First Citizens BancShares stock traded down $12.08 during midday trading on Friday, reaching $629.21. The stock had a trading volume of 92,232 shares, compared to its average volume of 122,842. First Citizens BancShares has a 12 month low of $616.41 and a 12 month high of $947.71. The firm’s 50-day moving average price is $702.89 and its 200 day moving average price is $787.75. The firm has a market capitalization of $10.05 billion, a PE ratio of 11.68 and a beta of 1.10. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.15.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, February 25th. This represents a $1.88 annualized dividend and a dividend yield of 0.30%. First Citizens BancShares’s payout ratio is presently 3.49%.

In related news, Director Harold Lee Durham, Jr. acquired 2,000 shares of the stock in a transaction dated Wednesday, February 23rd. The shares were purchased at an average cost of $24.60 per share, with a total value of $49,200.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig L. Nix bought 129 shares of the firm’s stock in a transaction that occurred on Thursday, January 27th. The shares were acquired at an average cost of $770.24 per share, for a total transaction of $99,360.96. The disclosure for this purchase can be found here. Insiders have purchased 2,471 shares of company stock worth $402,090 over the last ninety days. 13.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in shares of First Citizens BancShares by 4.3% in the 1st quarter. Truist Financial Corp now owns 10,966 shares of the bank’s stock worth $7,298,000 after buying an additional 449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Citizens BancShares by 842.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,531 shares of the bank’s stock worth $3,016,000 after buying an additional 4,050 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth $1,245,000. CWM LLC purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth $28,000. Finally, Reinhart Partners Inc. raised its position in shares of First Citizens BancShares by 3.4% in the 1st quarter. Reinhart Partners Inc. now owns 52,297 shares of the bank’s stock worth $34,809,000 after acquiring an additional 1,737 shares in the last quarter. Institutional investors own 62.59% of the company’s stock.

First Citizens BancShares Company Profile (Get Rating)

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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Earnings History and Estimates for First Citizens BancShares (NASDAQ:FCNCA)

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