First Citizens BancShares (NASDAQ:FCNCA) PT Raised to $1,950.00 at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its price target hoisted by Barclays from $1,850.00 to $1,950.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

A number of other equities analysts have also issued reports on FCNCA. UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a buy rating in a report on Tuesday, January 30th. Piper Sandler lowered First Citizens BancShares from an overweight rating to a neutral rating and increased their price objective for the stock from $1,850.00 to $1,950.00 in a report on Friday. DA Davidson reissued a neutral rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. StockNews.com lowered First Citizens BancShares from a hold rating to a sell rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group started coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a buy rating and a $1,950.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $1,829.90.

First Citizens BancShares Stock Down 2.7 %

NASDAQ:FCNCA opened at $1,707.48 on Friday. The firm has a market capitalization of $24.79 billion, a PE ratio of 9.48 and a beta of 0.89. The stock has a 50 day moving average of $1,586.73 and a 200-day moving average of $1,484.07. First Citizens BancShares has a 52 week low of $945.32 and a 52 week high of $1,810.03. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. Analysts predict that First Citizens BancShares will post 179.92 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.

Insider Activity

In related news, insider Hope Holding Bryant acquired 300 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the transaction, the insider now owns 1,978 shares of the company’s stock, valued at $2,601,070. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hope Holding Bryant acquired 300 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were bought at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,388 shares of company stock worth $1,825,220. Insiders own 12.85% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several large investors have recently added to or reduced their stakes in the company. Lincoln National Corp increased its stake in shares of First Citizens BancShares by 2.6% in the fourth quarter. Lincoln National Corp now owns 277 shares of the bank’s stock worth $393,000 after acquiring an additional 7 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of First Citizens BancShares by 4.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock worth $229,000 after acquiring an additional 7 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of First Citizens BancShares by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock worth $234,000 after acquiring an additional 7 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of First Citizens BancShares by 1.6% in the first quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock worth $736,000 after acquiring an additional 7 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after acquiring an additional 8 shares during the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

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.