First Citizens BancShares (NASDAQ:FCNCA) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of First Citizens BancShares (NASDAQ:FCNCA) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $2,154.00 price objective on the bank’s stock.

A number of other research analysts have also weighed in on FCNCA. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $2,200.00 target price (down from $2,450.00) on shares of First Citizens BancShares in a report on Wednesday, April 1st. TD Cowen reduced their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a report on Monday, January 26th. Barclays reduced their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a report on Friday, March 27th. Finally, Piper Sandler boosted their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,206.25.

First Citizens BancShares Stock Up 1.9%

FCNCA stock opened at $1,956.63 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $23.36 billion, a PE ratio of 11.81, a PEG ratio of 1.42 and a beta of 0.65. First Citizens BancShares has a twelve month low of $1,515.79 and a twelve month high of $2,232.21. The stock has a 50-day simple moving average of $1,950.95 and a two-hundred day simple moving average of $1,942.88.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. On average, equities analysts predict that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 134 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $1,550.00 per share, with a total value of $207,700.00. Following the completion of the acquisition, the chief executive officer owned 2,749 shares of the company’s stock, valued at $4,260,950. This trade represents a 5.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought a total of 258 shares of company stock worth $404,236 over the last ninety days. 13.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FCNCA. Allworth Financial LP lifted its position in First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after buying an additional 5 shares during the last quarter. MBL Wealth LLC lifted its position in First Citizens BancShares by 0.8% in the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after buying an additional 5 shares during the last quarter. Alteri Wealth LLC lifted its position in First Citizens BancShares by 4.1% in the 3rd quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock worth $276,000 after buying an additional 6 shares during the last quarter. Fifth Third Bancorp lifted its position in First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after buying an additional 6 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.