First Citizens BancShares (FCNCA) Scheduled to Post Quarterly Earnings on Thursday

First Citizens BancShares (NASDAQ:FCNCA) is scheduled to release its earnings data before the market opens on Thursday, April 25th. Analysts expect First Citizens BancShares to post earnings of $43.51 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, analysts expect First Citizens BancShares to post $179 EPS for the current fiscal year and $195 EPS for the next fiscal year.

First Citizens BancShares Trading Up 1.1 %

FCNCA opened at $1,550.00 on Thursday. First Citizens BancShares has a 52 week low of $945.32 and a 52 week high of $1,651.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market cap of $22.51 billion, a PE ratio of 1.98 and a beta of 0.89. The business has a 50 day moving average of $1,561.43 and a 200-day moving average of $1,465.85.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 0.84%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FCNCA. The Goldman Sachs Group began coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating and set a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. Barclays began coverage on First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,768.63.

Insiders Place Their Bets

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The stock was 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 approximately $7,549,113.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Hope Holding Bryant acquired 300 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now directly owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The stock was 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 directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,388 shares of company stock valued at $1,825,220. Corporate insiders own 12.85% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several large investors have recently modified their holdings of FCNCA. Vanguard Group Inc. lifted its position in First Citizens BancShares by 106.0% during the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock valued at $735,855,000 after purchasing an additional 568,929 shares in the last quarter. Invesco Ltd. lifted its position in First Citizens BancShares by 113.0% during the first quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock valued at $246,949,000 after purchasing an additional 196,851 shares in the last quarter. Sessa Capital IM L.P. purchased a new position in First Citizens BancShares during the first quarter valued at $158,509,000. Imprint Wealth LLC purchased a new position in First Citizens BancShares during the second quarter valued at $15,016,000. Finally, State Street Corp lifted its position in First Citizens BancShares by 53.7% during the first quarter. State Street Corp now owns 402,593 shares of the bank’s stock valued at $267,966,000 after purchasing an additional 140,626 shares in the last quarter. Institutional investors own 61.18% 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.