First Citizens BancShares (FCNCA) Projected to Post Earnings on Thursday

First Citizens BancShares (NASDAQ:FCNCA) is projected to announce its earnings results before the market opens on Thursday, July 24th. Analysts expect the company to announce earnings of $39.10 per share and revenue of $2.21 billion for the quarter.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping the consensus estimate of $37.72 by $0.07. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. On average, analysts expect First Citizens BancShares to post $168 EPS for the current fiscal year and $194 EPS for the next fiscal year.

First Citizens BancShares Trading Up 0.2%

First Citizens BancShares stock opened at $2,084.48 on Thursday. The business has a 50 day moving average price of $1,925.05 and a two-hundred day moving average price of $1,939.56. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64. First Citizens BancShares has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $1.95 dividend. The ex-dividend date was Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 350 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer directly owned 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth raised its position in shares of First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of First Citizens BancShares by 71.9% during the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after purchasing an additional 164 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in First Citizens BancShares by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after acquiring an additional 681 shares during the period. 78.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. Barclays decreased their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Cowen assumed coverage on First Citizens BancShares in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Citigroup lifted their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. TD Cowen initiated coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They set a “buy” rating and a $2,400.00 price objective for the company. Finally, UBS Group reiterated a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,299.50.

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.