First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Rating of “Moderate Buy” by Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2,093.40.

Several research firms recently weighed in on FCNCA. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Wedbush lowered their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

First Citizens BancShares Trading Down 0.6 %

Shares of NASDAQ:FCNCA opened at $2,325.96 on Wednesday. First Citizens BancShares has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $32.54 billion, a P/E ratio of 13.33 and a beta of 0.80. The company has a 50-day simple moving average of $2,025.40 and a 200 day simple moving average of $1,897.60.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company posted $55.92 EPS. Sell-side analysts forecast that First Citizens BancShares will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.34%. First Citizens BancShares’s dividend payout ratio is 4.47%.

Hedge Funds Weigh In On First Citizens BancShares

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in First Citizens BancShares by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank’s stock worth $14,339,000 after acquiring an additional 365 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of First Citizens BancShares by 1.2% in the first quarter. Janus Henderson Group PLC now owns 903 shares of the bank’s stock worth $1,475,000 after purchasing an additional 11 shares during the last quarter. Tidal Investments LLC grew its stake in shares of First Citizens BancShares by 11.7% in the first quarter. Tidal Investments LLC now owns 592 shares of the bank’s stock worth $968,000 after purchasing an additional 62 shares during the last quarter. Comerica Bank increased its holdings in First Citizens BancShares by 62.6% in the first quarter. Comerica Bank now owns 3,829 shares of the bank’s stock valued at $6,260,000 after purchasing an additional 1,474 shares during the period. Finally, Plato Investment Management Ltd raised its position in First Citizens BancShares by 1,271.4% during the 1st quarter. Plato Investment Management Ltd now owns 384 shares of the bank’s stock worth $628,000 after purchasing an additional 356 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors.

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.