FY2023 Earnings Forecast for First Citizens BancShares, Inc. (NASDAQ:FCNCA) Issued By DA Davidson

First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) – Stock analysts at DA Davidson upped their FY2023 EPS estimates for First Citizens BancShares in a report released on Wednesday, May 18th. DA Davidson analyst K. Fitzsimmons now anticipates that the bank will earn $90.60 per share for the year, up from their previous estimate of $83.51.

First Citizens BancShares (NASDAQ:FCNCAGet Rating) last announced its earnings results on Thursday, April 28th. The bank reported $18.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $13.32 by $5.63. First Citizens BancShares had a net margin of 22.17% and a return on equity of 11.95%. During the same quarter last year, the firm earned $14.53 EPS.

A number of other equities analysts have also issued reports on FCNCA. Piper Sandler lowered their target price on shares of First Citizens BancShares from $1,000.00 to $900.00 in a research report on Friday, March 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, Zacks Investment Research lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $964.00.

Shares of FCNCA opened at $650.28 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $10.39 billion, a PE ratio of 11.60 and a beta of 1.06. The company’s 50 day simple moving average is $666.02 and its 200-day simple moving average is $762.17. First Citizens BancShares has a 12-month low of $610.67 and a 12-month high of $947.71.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be given a $0.47 dividend. The ex-dividend date is Friday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 0.29%. First Citizens BancShares’s dividend payout ratio (DPR) is 3.35%.

In other First Citizens BancShares news, Director Harold Lee Durham, Jr. bought 2,000 shares of First Citizens BancShares stock in a transaction on Wednesday, February 23rd. The stock was bought at an average price of $24.60 per share, with a total value of $49,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider West Ludwig bought 150 shares of First Citizens BancShares stock in a transaction on Thursday, February 24th. The stock was acquired at an average cost of $725.86 per share, with a total value of $108,879.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,214 shares of company stock worth $889,507. 13.40% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Amitell Capital Pte Ltd acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $27,000. CWM LLC acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $28,000. Dark Forest Capital Management LP acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth $29,000. TCI Wealth Advisors Inc. raised its stake in shares of First Citizens BancShares by 880.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 49 shares of the bank’s stock worth $33,000 after buying an additional 44 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $36,000. 39.07% of the stock is owned by institutional investors.

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.

Further Reading

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

Receive News & Ratings for First Citizens BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Citizens BancShares and related companies with MarketBeat.com's FREE daily email newsletter.