First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,340.33 Consensus Target Price from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat Ratings 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 twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $2,340.33.

A number of equities research analysts have recently issued reports on the company. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. TD Cowen initiated coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price target on the stock. Jefferies Financial Group started coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 price objective for the company. The Goldman Sachs Group decreased their target price 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. Finally, Barclays cut their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the acquisition, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in First Citizens BancShares by 3.0% during 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 last quarter. Exencial Wealth Advisors LLC increased its holdings in shares of 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 during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of First Citizens BancShares by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock valued at $328,000 after acquiring an additional 5 shares during the last quarter. JT Stratford LLC raised its stake in shares of First Citizens BancShares by 0.4% in 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. Finally, Sanctuary Advisors LLC lifted its holdings in First Citizens BancShares by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 2,309 shares of the bank’s stock worth $5,122,000 after purchasing an additional 6 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 2.0%

Shares of NASDAQ:FCNCA opened at $1,845.31 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.86 and a beta of 0.64. First Citizens BancShares has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a 50 day moving average price of $1,819.46 and a 200 day moving average price of $1,952.98.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. On average, research analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, May 30th. 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.