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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2,340.33.

FCNCA has been the topic of several research analyst reports. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. The Goldman Sachs Group lowered their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th. Barclays dropped their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th.

Insider Buying and Selling

In related news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the transaction, the chief executive officer now directly owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors have recently modified their holdings of FCNCA. Mather Group LLC. lifted its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the period. Private Advisor Group LLC boosted its position in shares of First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after buying an additional 5 shares during the period. Exencial Wealth Advisors LLC grew its stake in First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Gamco Investors INC. ET AL grew its position in First Citizens BancShares by 3.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock valued at $328,000 after purchasing an additional 5 shares in the last quarter. Finally, JT Stratford LLC grew its holdings in shares of First Citizens BancShares by 0.4% during the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank’s stock valued at $2,635,000 after acquiring an additional 5 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,822.27 on Wednesday. The company has a market cap of $24.22 billion, a PE ratio of 9.62, a P/E/G ratio of 0.94 and a beta of 0.64. The stock has a fifty day moving average price of $1,792.52 and a 200 day moving average price of $2,003.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 1-year low of $1,473.62 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. Sell-side analysts forecast that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio is currently 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.