First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $1,829.90.

FCNCA has been the subject of a number of recent research reports. Barclays boosted their price objective on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. DA Davidson reissued a “neutral” rating and set a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Piper Sandler lowered shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday, April 29th.

Check Out Our Latest Stock Report on FCNCA

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,669.72 on Wednesday. The company has a market capitalization of $24.26 billion, a PE ratio of 9.27 and a beta of 0.84. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $1,675.51 and a 200 day simple moving average of $1,546.52. First Citizens BancShares has a twelve month low of $1,181.71 and a twelve month high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping the consensus estimate of $44.27 by $8.65. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, sell-side analysts forecast that First Citizens BancShares will post 188.62 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, May 31st. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the transaction, the director now owns 2,335 shares in the company, valued at $4,124,170.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other First Citizens BancShares 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 transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the transaction, the director now directly owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,600 shares of company stock valued at $6,209,022. Insiders own 12.85% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of First Citizens BancShares by 100.0% in 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. ORG Partners LLC bought a new position in First Citizens BancShares in the first quarter worth $29,000. GAMMA Investing LLC purchased a new position in First Citizens BancShares during the fourth quarter valued at $30,000. Mather Group LLC. bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at $31,000. Finally, LRI Investments LLC purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth about $33,000. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Company Profile

(Get Free Report

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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Analyst Recommendations for First Citizens BancShares (NASDAQ:FCNCA)

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