First Citizens BancShares (NASDAQ:FCNCA) Rating Reiterated by DA Davidson

DA Davidson reaffirmed their neutral rating on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $1,650.00 target price on the bank’s stock, up from their previous target price of $1,600.00.

Several other brokerages have also issued reports on FCNCA. Wedbush reaffirmed an outperform rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. UBS Group lifted their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. StockNews.com lowered shares of First Citizens BancShares from a hold rating to a sell rating in a research note on Wednesday, April 3rd. Barclays started coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They set an equal weight rating and a $1,850.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a buy rating and a $1,950.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $1,768.63.

First Citizens BancShares Stock Down 2.0 %

Shares of NASDAQ FCNCA opened at $1,537.60 on Monday. The firm has a market capitalization of $22.33 billion, a PE ratio of 1.96 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares has a 1 year low of $945.32 and a 1 year high of $1,651.73. The firm’s 50-day moving average is $1,559.12 and its 200-day moving average is $1,464.18.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. Equities analysts expect that First Citizens BancShares will post 178.72 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is 0.84%.

Insiders Place Their Bets

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 466 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding bought 466 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders purchased a total of 1,388 shares of company stock valued at $1,825,220 over the last ninety days. 12.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Citizens BancShares

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after acquiring an additional 10 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $30,000. Castleview Partners LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $31,000. Finally, Lindbrook Capital LLC boosted its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after acquiring an additional 8 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

About First Citizens BancShares

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.