What is DA Davidson’s Estimate for FCNCA FY2024 Earnings?

First Citizens BancShares, Inc. (NASDAQ:FCNCA) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for First Citizens BancShares in a research report issued on Thursday, November 21st. DA Davidson analyst M. Navas now forecasts that the bank will earn $187.75 per share for the year, down from their previous forecast of $192.50. The consensus estimate for First Citizens BancShares’ current full-year earnings is $189.06 per share. DA Davidson also issued estimates for First Citizens BancShares’ Q4 2024 earnings at $39.44 EPS.

Several other research firms also recently issued reports on FCNCA. Piper Sandler upped their price objective on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays upped their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush reduced their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,025.90.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,353.08 on Friday. The company’s fifty day moving average is $2,005.59 and its 200-day moving average is $1,886.58. First Citizens BancShares has a 12 month low of $1,363.97 and a 12 month high of $2,363.90. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of 13.44 and a beta of 0.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the prior year, the company posted $55.92 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. LRI Investments LLC bought a new position in First Citizens BancShares in the first quarter valued at approximately $33,000. V Square Quantitative Management LLC acquired a new position in First Citizens BancShares during the second quarter worth $35,000. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares in the third quarter valued at $39,000. Gradient Investments LLC acquired a new position in shares of First Citizens BancShares in the second quarter valued at $52,000. Finally, Blue Trust Inc. increased its holdings in shares of First Citizens BancShares by 120.0% in the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

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.